Dealing with Landgate Practical Issues for Trustees Presented by Rob - - PowerPoint PPT Presentation

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Dealing with Landgate Practical Issues for Trustees Presented by Rob - - PowerPoint PPT Presentation

Apr 03, 2024 449 likes •574 views

Wednesday, 1 June 2016 Peak Indebtedness and Preferences A New Zealand Experience Presented by Ray Christensen Zilkens Lawyers And Dealing with Landgate Practical Issues for Trustees Presented by Rob Wallman HLB Mann Judd

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Wednesday, 1 June 2016

Peak Indebtedness and Preferences – A New Zealand Experience

Presented by Ray Christensen – Zilkens Lawyers

And Dealing with Landgate – Practical Issues for Trustees

Presented by Rob Wallman – HLB Mann Judd (Insolvency WA)

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Running balance defence and the Peak Indebtedness rule: New Zealand says we’re doing it wrong

Ray Christensen – Zilkens Lawyers raymond.christensen@zilkens.com.au

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s 588FA(3), Corporations Act (Aus)

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s 292(4B) Companies Act, (NZ)

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Graph of Aus v NZ positions

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Case citations

  • Peak Indebtedness rule: Rees v Bank of

NSW (1964) 111 CLR 210

  • Running balance a/c defence: Richardson

v Commercial Banking Co Sydney Ltd (1952) 85 CLR 110

  • NZ challenge to Peak Indebtedness rule:

Timberworld v Levin [2015] NZCA 111

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Australian Credit Forum example

  • 3 companies, each supply and get paid $50k but with different

timings

10000 20000 30000 40000 50000 60000 70000

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Questions and discussion

Ray Christensen, Senior Associate Zilkens Lawyers raymond.christensen@zilkens.com.au

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Wednesday, 1 June 2016

Peak Indebtedness and Preferences – A New Zealand Experience

Presented by Ray Christensen – Zilkens Lawyers

And Dealing with Landgate – Practical Issues for Trustees

Presented by Rob Wallman – HLB Mann Judd (Insolvency WA)

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Dealing with Landgate – Practical Issues for Trustees

  • Bankrupt Estates and/or Deceased Estates
  • Process to be followed:

– Apply to Landgate to register Trustees name on title – Obtain a letter of consent from Financial Institution – Title to be produced at Landgate – Withdrawal of caveats – Application to be accepted by Landgate – Landgate to re-issue title (with Trustees names included) – Title (with Trustees names registered available to settlement)

  • Can expedite application to Landgate
  • Need to have co-operation of Financial Institution
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Next session – Wednesday, 6 July 2016 at 8am Topic Mining Tenements in the Insolvency Context Brett Molony – Price Sierakowski Lawyers