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Minter Ellison acts for insolvency practitioners appointed as liquidators following a corporate collapse, and other stakeholders who interact with liquidators (whether as secured creditors, landlords, directors, or potential purchasers of assets). We have substantial experience in dealing with regulators when a corporate collapse occurs, including ASIC and ASX.
We have strong relationships with the big four Australian banks and leading insolvency accountants.
This week the Full Federal Court unanimously overturned the decision to refuse ASICS's application to remove the liquidators of Walton Construction Pty Ltd, which had been appointed though a referral by the Mawson Group. The case presents a warning to insolvency practitioners who may find themselves overly dependent on a single source of referral work.
The High Court has confirmed that the liquidators of a landlord can disclaim a lease, with the effect of terminating the tenant's leasehold estate or interests in the land.
Can the liquidator of a landlord disclaim a lease so that the tenant no longer has any interest in the land? This important question may be answered soon with the High Court granting special leave to appeal from the decision of the Court of Appeal of the Supreme Court of Victoria In the Matter of Willmott Forests Ltd (in liquidation).