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TGIF– Serve to preserve: Court grants limited extension to preserve liquidator claims - Insolvency/Bankruptcy/Re-structuring


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This week s TGIF considers a recent decision of the
NSW Supreme Court which determined an application to extend the
time to bring voidable transaction claims, where the potential
defendants were themselves insolvent, deregistered or bankrupt and
the prospect of returns from the proceedings unclear.
Key takeaways
The Courts often hear applications for extensions of time to
commence voidable transaction claims but never in circumstances
where the extension was sought until it was clear there was
practical utility in proceedings being filed.
The policy underpinning Section 588FF(3) of the Corporations ....

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