In July 2015 Justice Black handed down a decision in the case of Bluenergy which dealt a blow to secured creditors holding a security interest in all of a company’s present and future assets.
With effect from 1 July 2016, the NSW State Government has abolished stamp duty on mortgages, being the last Australian state to do so. However, this isn’t just a dry change in taxes; it is an opportunity for anybody in the business of granting credit.
Proceedings have been set down for hearing. The trial date is imminent. The barristers are sharpening their cross-examination. Witnesses are lined up to give evidence. The final flurry before hearing is in full swing. But wait! The defendant has called time out! A voluntary administrator has been appointed in the countdown to kick-off. What now?