Insolvency, Turnaround & Recoveries Team Members


09 May 2014

Insolvency Newsflash

In February 2014 we published an Insolvency Update discussing the matter of Re Walton Constructions Pty Ltd (in liq); ASIC v Franklin [2014] FCA 68, in relation to an unsuccessful application by ASIC to remove the liquidators of the relevant companies for a perceived lack of independence and impartiality (also seeking further declarations that the DIRRI they completed was deficient).

A copy of the article can be accessed here.

ASIC appealed the decision to the Full Court of the Federal Court of Australia. The appeal, before Justices Jessup, Robertson and White, was heard on 5 May 2014, with the judgement reserved.

We will provide a further Newsflash once the appeal decision has been handed down.

For further information please contact:

Warren Jiear
07 3220 7709

Sarah Drinkwater
07 3220 7723

Tim Logan
07 3220 7727



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