30 April 2004
Welcome to the April 2004 edition of Clayton Utz Banking & Financial Services Insights, in which we'll look at the
By Anna Sharpe and Clayton Barrett.
If a decision of the South Australian Supreme Court is followed, say Anna Sharpe and Clayton Barrett, directors of corporate trustees will be personally liable for any liability incurred by the trustee if the trustee had insufficient assets to meet that liability at the time it was incurred.
A recent decision highlights risks for participants in tender processes. Sid Wang and Luke Buchanan tease out the implications for financiers of purchasers as well as receivers and administrators.
By Karen O'Flynn.
Karen O'Flynn warns that secured lenders may need to tighten up their back office procedures if recent judicial rumblings start to get louder. The Federal Court has questioned the use of judicial discretion to validate the late registration of debentures and other charges.
By Mark Sammut and Amanda-Jane Lovering.
Authorities allowing insurers and financiers to collect and disclose personal information should not be drafted too widely, say Mark Sammut and Amanda-Jayne Lovering, following a recent decision.
The restructure of Loy Yang A's debt is one of the largest debt restructurings ever undertaken in Australia, and certainly the largest project finance restructuring.
Brian is widely regarded as Australia's most senior and experienced securitisation lawyer.