Bankruptcy BCR Advisory

Does a bankrupt beneficiary’s effective control of a discretionary trust transform their interest into property?

This article was sourced from Lexology. Article by Corrs Chambers Westgarth. This week’s TGIF considers Fordyce v Ryan & Anor; Fordyce v Quinn & Anor [2016] QSC 307, where the Court considered whether a beneficiary’s interest in a discretionary trust amounted to ‘property’ for the purposes of the Bankruptcy Act 1966 (Cth). BACKGROUND The case centred around […]

BCR Advisory team

When Construction Contracts Go Sideways in Bankruptcy

 This article was sourced from JD Supra Business Advisor. Article by Tracy Green. The contractor on a project files a bankruptcy case. How should the property owner and subcontractors proceed? When a party to a contract files bankruptcy, the other party’s actions are constrained by the bankruptcy code. Types of Bankruptcies The typical bankruptcy case involves […]

Bankruptcy BCR Advisory

Australia: Liquidators and the TGA – legislative and practical issues

This article was sourced from Mondaq. Article by William Clement and Ian Currie. Liquidators can face significant issues when appointed over companies that operate under the licensing regime of the Therapeutic Goods Administration (TGA). The TGA is a Commonwealth Government agency administered by the Department of Health. It’s responsible for regulating the supply, import, export, manufacturing and […]

buildings BCR Advisory
BCR Advisory Articles

Federal government safety net for employees

Federal government safety net for employees When an employee loses their job through the liquidation or bankruptcy of their employer, they will have recourse to a federal government safety net called the Fair Entitlements Guarantee (FEG) for protection of certain unpaid employee entitlements. The entitlements that may be claimed by an eligible employee are: unpaid […]