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"CREDITORS' RIGHTS IN INSOLVENCY IN AUSTRALIA:

A PRACTICAL GUIDE"

Written by P Keenan

 Written between 1990 and 1994

(Publication began on this site on 5/5/2007. Latest contents published 13/2/2014)

 

TABLE OF CONTENTS

FOREWORD

GLOSSARY OF TERMS

CHAPTER

     1.   INTRODUCTION

          1.1   Scope and layout of this book                                                                                      Caution long narrow

          1.2   How to use this book

    

     2.   THE GENERAL SCHEME OF INSOLVENCY LAW

          2.1   Functions

          2.2   Types of debtor entities

          2.3   Legislation

          2.4   Types of creditors

          2.5   Creditors' rights

          2.6   Restrictions on creditors

          2.7   Notices and advertisements

          2.8   Courts

          2.9   Governing officials and institutions

          2.10  Types of administrations

          2.11  Administrators

          2.12  Informal schemes or administrations

         

     3.   THE SCHEME IN MORE DETAIL

          3.1   Insolvency administrations: companies

          3.2   Insolvency administrations: individuals

          3.3   Other debtor entities

          3.4   External Administrators

          3.5   Creditors - secured

          3.6   Creditors - unsecured

          3.7   Powers of courts

          3.8   Officials and institutions: companies

          3.9   Officials and institutions: individuals

 

     4.   CREDITORS' VOLUNTARY LIQUIDATION

          4.1   Nature of administration

          4.2   Effect on unsecured creditors

          4.3   Effect on secured creditors

          4.4   Effect on existing contracts

          4.5   Effect on new contracts

          4.6   Notice of initial meeting of creditors

          4.7   Before the creditors' meeting

          4.8   Appointment of a proxy

          4.9   Particulars of debt or claim

          4.10  Appointment of a chairperson

          4.11  Choosing a liquidator

          4.12  A committee of inspection

          4.13  Remuneration of the liquidator

          4.14  Questions to director

          4.15  At the meeting    

          4.16  During the administration

          4.17  Requests by the liquidator

          4.18  Action against directors

          4.19  Supervising the liquidator

          4.20  Discipline of the liquidator

          4.21  Liquidator versus creditors

          4.22  Supply of goods and services

          4.23  Committee of inspection

          4.24  Public examinations

          4.25  Termination of liquidation

 

     5.   PROVISIONAL LIQUIDATION

 

 

 

 

     6.   OFFICIAL [or COURT] LIQUIDATION

               Nature of administration

               Effect on unsecured creditors

               Reports by liquidator 

               Meeting of creditors

               Notice of meeting               

               Before the meeting 

               Who may vote

               At the meeting   

               During the administration

               Committee of inspection

               Dividends to creditors

               Investigation by liquidator

               Public examinations

               Investigation by CAC

               Complaints  

               Termination of liquidation

 

 

     7.   RECEIVERSHIP

               Nature of administration

               Effect on unsecured creditors

               Report by Receiver

               Options for unsecured creditors

               Dividends to creditors

               Investigation by Receiver

               Investigation by CAC

               Complaints

               Termination of receivership

 

     8.   MORTGAGEES IN POSSESSION

               Nature of administration   

               Effect on unsecured creditors

               Report by mortgagees agent

               Options for unsecured creditors

               Dividends to creditors

               Investigation by agent

               Role of CAC

               Complaints

               Termination of administration

 

     9.   OFFICIAL MANAGEMENT

               Nature of administration

               Effect on unsecured creditors

               Notice of meeting of creditors

               Before the meeting

               Who may vote

               Options available

               At the meeting 

               During the administration

               Committee of management

               Reports by official manager

               Dividends to creditors

               Investigation by official manager

               Investigation by CAC

               Complaints

               Replacing the official manager

               Conversion to liquidation

               Release of official manager

               Termination of official management

 

     10.  SCHEME OF ARRANGEMENT

               Nature of administration

               Effect on unsecured creditors

               Notice of meeting of creditors

               Before the meeting

               Who may vote

               At the meeting

               Court approval

               During the administration

               Reports by scheme manager

               Dividends to creditors

               Investigation by scheme manager

               Investigation by CAC

               Complaints

               Replacing the scheme manager

               Termination of scheme

 

     11.  BANKRUPTCY

               Nature of administration

               Effect on unsecured creditors

               Reports by trustee

               Meeting of creditors

               Notice of meeting

               Before the meeting

               Who may vote

               At the meeting

               During the administration

               Committee of inspection

               Dividends to creditors

               Investigation by trustee

               Public examination  

               Objection to discharge from bankruptcy

               Role of Official Receiver

               Complaints

               Replacing the trustee

               Termination of bankruptcy

 

     12.  PART X [Bankruptcy Act] ARRANGEMENT

               Nature of administration

               Effect on unsecured creditors

               Notice of meeting of creditors

               Debtor's proposal

               Trustee's opinion

               Options available

               Before the meeting

               Who may vote 

               At the meeting

               During the administration

               Committee of inspection

               Dividends to creditors

               Compliance with terms of arrangement

               Investigation by trustee

               Public examination

               Role of Official Receiver

               Complaints

               Replacing the trustee

               Termination of arrangement

 

     13.  SPECIAL SUBJECTS AND ISSUES

      13.1   Continuing supply

      13.2   Contracts

      13.3   Defamation and Qualified Privilege

      13.4   Disclaimers

      13.5   Employees

               Ethics of insolvency practitioners

               Fees for insolvency administrators

               Government and statutory authorities

               Income tax

               Indemnities

               Informal schemes

               Liquidator's reports - Section 418

               Preferential creditors

               Proof of debt

               Provable debts

               Proxies

               Public examinations

               Recovery of debts from directors

               Report as to Affairs

               Retention of title 

               Sale of assets

               Statement of Affairs

               Void dispositions

               Voidable preferences

 

     14.  STATUTORY AND OTHER FORMS EXPLAINED

               Liquidator's Account

               Proof of debt 

               Proxies

               Receiver's Account

               Rejection of Proof of Debt

               Report as to Affairs

               Statement of Affairs

               Summary of Affairs

               Trustee's Account

 

PRECEDENT LETTERS AND FORMS

CONTACTS

NOTES

TABLE OF CASES

BIBLIOGRAPHY

INDEX

 

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