Canberra announces huge reforms to insolvency laws – here’s what we expect By William Buck on 24/09/20 - Mins to read: < 1 minute Canberra has announced the most significant reforms to insolvency laws in decades, applicable for companies with debts below $1 million. While the finer details are yet to be confirmed, the proposal to introduce a debtor in possession model from 1 January 2021 which will be available to directors once every...Read More >
William Buck Restructuring & Insolvency completes sale of MyHouse retail business By William Buck on 24/09/20 - Mins to read: < 1 minute Michael Brereton and Sean Wengel, the administrators of MyHouse, have successfully completed the sale of the MyHouse retail business to Global Retail Brands Australia Pty Ltd. After a lengthy sale process, exacerbated by the difficult retail environment, William Buck has completed the sale of the MyHouse retail business comprising 23...Read More >
Federal Court approves William Buck’s application to extend MyHouse convening period By William Buck on 24/09/20 - Mins to read: < 1 minute William Buck Restructuring & Insolvency have obtained orders from the Federal Court to extend the convening period to hold the second meeting of MyHouse (Australia) Pty Ltd (Administrators Appointed)’s creditors from 27 April to 27 May 2020. This will enable Michael Brereton and Sean Wengel, as the Administrators of MyHouse,...Read More >
Urgent expressions of interest | MyHouse By William Buck on 24/09/20 - Mins to read: < 1 minute MyHouse (Aust) Pty Limited (Administrators Appointed) "MyHouse" Michael Brereton and Sean Wengel as administrators of MyHouse seek urgent expressions of interest in MyHouse’s business through: The acquisition of the business and assets or The recapitalisation by way of a Deed of Company Arrangement MyHouse have been creating quality bedding and...Read More >
Insolvent Trading: the consequences for directors By William Buck on 24/09/20 - Mins to read: < 1 minute It is widely considered that Australia’s insolvent trading laws are draconian compared to many of our major trading partners. Historically the insolvent trading laws were merely a theoretical concern for directors, due to lack of enforcement and lack of funding for liquidators to pursue directors who may have breached these...Read More >
When is a trustee’s work done? A registered trustee’s perspective By Sean Wengel on 24/09/20 - Mins to read: < 1 minute This article was originally published in the Australian Financial Security Authority PIR Newsletter on 4 December, 2019 (Volume 17, Issue 4). Registered trustee Sean Wengel of William Buck shares his perspectives on the powers and obligations of trustees well after a regulated debtor is discharged from bankruptcy. A trustee might...Read More >
