- CPD Points: 1 [SL]
- Price: $77.00
- Area: Bankruptcy and insolvency; Business Law; Commercial Law; Companies / Corporations Law
- Delivered: December 2020
Digital Content
- Recording
- Paper (none)
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Description
In the economic fallout of the COVID-19 pandemic, the Federal Government announced reforms to the Corporations Act which aim to streamline insolvency appointments to, and business restructuring for, small businesses. The reforms implemented a ‘debtor in possession’ appointment model which is in large part based upon Chapter 11 of the United States Bankruptcy Code, and which have the potential to affect a significant number of insolvency appointments – particularly in Tasmania where appointments are rarely to larger corporate entities.
Travis Anderson, registered liquidator and partner of Deloitte Restructuring, and Chris Groves, principal of Dobson Mitchell Allport, address the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 (Cth) that took effect on 1 January 2021, using a model of an expected appointment and discussing matters upon which legal practitioners may – and should not – advise. Key takeaways include – Introduction to the new Part 5.3A of the Corporations Act, its application and intent; A practical example: how the reforms may or may not assist a struggling small business; Constraints and legislative exclusions of which practitioners should be aware of when advising; and The potential roles of lawyers when assisting debtors and creditors impacted by the reforms.
Travis Anderson, Partner, Deloitte
About the Presenter:
Mr Travis Anderson leads Deloitte Tasmania’s restructuring services team and specialises in advising underperforming and distressed businesses by providing both corporate turnaround and insolvency services. Travis is a member of the Australian Restructuring Insolvency and Turnaround Association (ARITA), and a Registered Liquidator.
Christopher Groves, Principal, Dobson Mitchell Allport
About the Presenter:
Mr Chris Groves is Principal at Dobson Mitchell Allport in their commercial litigation and dispute resolution team. He is a leading commercial litigation lawyer and an accredited building adjudicator. He practises across a wide range of commercial and related disputes, with a focus on company and partnership disputes, insolvency law, building and construction disputes, trust disputes, property disputes, and recovery actions. Chris is an adjudicator under the Security of Payment legislation in Tasmania, New South Wales and Queensland, and has adjudicated hundreds of construction payment disputes in this role since 2010.
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