Mark Wilks

May 18, 2024 | mondaq.com | Mark Wilks |Brooke Egan |Teagan Matthews |Rebecca Chew

In a recent decision of the Supreme Court of New South Wales (In the matter of Pacific Plumbing Group Pty Limited (in liquidation)  [2024] NSWSC 525), Justice Black determined that a payment made by a third party was not an unfair preference because the payment did not diminish assets available to creditors. When identifying potential recoveries, liquidators should carefully consider whether payments made by third parties amount to unfair preferences.

May 16, 2024 | lexology.com | Mark Wilks |Brooke Egan |Teagan Matthews |Rebecca Chew

In a recent decision of the Supreme Court of New South Wales (In the matter of Pacific Plumbing Group Pty Limited (in liquidation) [2024] NSWSC 525), Justice Black determined that a payment made by a third party was not an unfair preference because the payment did not diminish assets available to creditors. Key TakeawaysWhen identifying potential recoveries, liquidators should carefully consider whether payments made by third parties amount to unfair preferences.

Mar 1, 2024 | mondaq.com | Mark Wilks |Brooke Egan

he Federal Court in Morgan, in the matter of Traditional Values Management Limited (in liq) [2024] FCA 74, approved an abridged process that allowed the liquidator to admit debts of a group of unsecured creditors without requiring a formal proof of debt. During a liquidation, courts will carefully consider approving a departure from the traditional proof of debt process where satisfied that the formal procedure would deplete the distribution pool and ultimate return to creditors.

Feb 29, 2024 | lexology.com | Mark Wilks |Brooke Egan

The Federal Court in Morgan, in the matter of Traditional Values Management Limited (in liq) [2024] FCA 74, approved an abridged process that allowed the liquidator to admit debts of a group of unsecured creditors without requiring a formal proof of debt. Key TakeawaysDuring a liquidation, courts will carefully consider approving a departure from the traditional proof of debt process where satisfied that the formal procedure would deplete the distribution pool and ultimate return to creditors.