Regional news: Australia

Irish lessors lose latest round in fight to overturn Garuda’s restructuring plan

Two Irish lessors fighting the US$9.5 billion restructuring of Indonesia’s national airline have failed to wind up the company in Australia after a judge in Sydney found it is "immune" from the jurisdiction of the Australian courts.

28 November 2022

PwC appointed trustee for sale of bankrupt Hong Kong businessman’s Australian property

A bankrupt businessman’s Hong Kong trustees have won the right appoint their Australian colleagues to sell a property he co-owns in New South Wales, but failed to convince the court to grant them leave to file an amended summons to recoup possible repair costs from the other owner.

24 November 2022

KordaMentha, King & Wood Mallesons hired for Deliveroo Australia’s administration

Deliveroo’s Australian operating subsidiary has entered voluntary administration appointing a team from KordaMentha advised by King & Wood Mallesons, in a case that could raise interesting questions for tech companies with non-physical assets.

17 November 2022

Endo affiliate Astora’s Chapter 11 fully recognised in Australia

An affiliate of the Endo pharma group has secured recognition of its Chapter 11 in Australia, a month after it was granted interim relief staying personal injury claims from women who allege they have suffered complications from its transvaginal mesh products.

31 October 2022

Garuda wins Ch15 recognition but Irish lessors prepare for fight

Indonesia’s national airline has secured US recognition of its US$9.5 billion restructuring plan, but two Irish lessors said they will resist attempts by the company to seek enforcement orders.

27 October 2022

Lawyers welcome review of Australia’s corporate insolvency regime

Updated: The Australian government has opened a review of the country’s corporate insolvency laws, which local lawyers say are “not fit for purpose” in light of the continuing impact of covid-19 and broader domestic and international economic conditions.

11 October 2022

Latham advising as Bang energy drink owner files Ch11 in Florida

The owner of US energy drink Bang is seeking bankruptcy protection in Miami to overhaul its distribution system and stay a host of litigation, including trademark infringement and false advertising claims from a rival company.

11 October 2022

Endo's Ch11 recognised, stalling claims in UK and Australia

UK and Australian courts have recognised the Chapter 11 proceedings of a US affiliate of Irish-registered pharma group Endo, staying multiple claims brought against it in those jurisdictions by women who say they suffered as a result of its pelvic mesh products.

28 September 2022

Singapore court offers guidance on “sufficient connection” as Zipmex moratoria granted

Hoping to assist practitioners as the crypto winter ushers in a new period of activity for the restructuring industry, the High Court of Singapore has published brief grounds for its decision to extend moratoria for foreign companies within the Zipmex group.

17 August 2022

Canadian tech group enters Ch11, Australian subsidiary in liquidation

Canada-listed software logistics business GetSwift Technologies has sought Chapter 11 protection in New York, days after its Australian subsidiary entered liquidation after being found liable last year for making misleading statements to the Australian Securities Exchange about customer agreements with the likes of Amazon.

03 August 2022

Unlock unlimited access to all Global Restructuring Review content