When an agreement is reached to "resuscitate" an insolvent company, and enable it to continue trading, the position of the company's "future" creditors does not always receive much attention. However, two recent cases suggest that this may not be the correct approach, say Karen O'Flynn and Andrew Dienhoff.
Brian Salter and Louise McCoach discuss a recent Western Australian decision which looks at the definitions of "Promissory Note" and "Debenture" for the purposes of the Corporations Act.
