Michael Kimmins

Dec 1, 2024 | mondaq.com | Michael Kimmins |Daniel A. Byrne |Jack Donnelly

IE CA 3 Holdings Ltd and IE CA 4 Holdings Ltd (Companies) were two Canadian registered companies whose directors were located outside of Canada. The Companies' parent company, Iris Energy Limited (Iris), was listed on NASDAQ and had its registered office in Melbourne and principal place of business in Sydney, with three of its six directors located in New South Wales. In November 2022, the Companies defaulted on certain payment obligations.

Sep 27, 2024 | lexology.com | Michael Kimmins |Alicia Salvo |Daniel A. Byrne

In Morgan v McMillan Investment Holdings Pty Ltd [2024] HCA 33, the High Court had to consider whether a right to sue held by companies in liquidation could provide the required gateway for a pooling order under s 579E(1) of the Corporations Act 2001 (Cth). Key TakeawaysThe High Court has considered and provided guidance on the availability of pooling orders under s 579E of the Corporations Act 2001 (Cth).

Nov 23, 2023 | corrs.com.au | Michael Kimmins

In this week’s TGIF, we examine the recent case of Re Eliana Construction and Developing Group Pty Ltd [2023] VSC 639 which considers guarantor subrogation rights in insolvency scenarios. This case provides a pertinent reminder that deeds and guarantor agreements may alter the rights of parties in a liquidation scenario.

Sep 28, 2023 | corrs.com.au | Michael Kimmins

In this week’s TGIF, we examine the recent case of Mandalinic v Stone (Liquidator) [2023] FCAFC 146 which provides useful guidance as to the ability of a director to challenge an insolvent company’s PAYG liability. A director cannot rely on an affidavit in proceedings relating to their personal liability under a director’s penalty notice to reduce or revoke an estimate given by the Commissioner to the company pursuant to section 268-40 of the Taxation Administration Act 1993 (Cth).