The Commercial Bar Association of Victoria Inc. A0120851O
The Court of Appeal in Whitty v Talia [2023] VSCA 246 has recently considered the principles applicable to severance of a joint tenancy. In so doing, it has provided a timely reminder to practitioners about property law transactions which blend the corporate and the familial.
Do funds paid into court as security for costs pursuant to a consent order give rise to a security interest pursuant to s 12(1) of the Personal Property Securities Act 2009 (Cth) (PPSA)? No, according to the Honourable Justice M Osborne. However, it may be that other forms of security for costs do.
The New South Wales Supreme Court has provided welcome guidance on the relevance of future events to the question of solvency. Specifically, the Court has provided a roadmap on the relevance of (i) future debts which the company may not be able to repay; and (ii) the ability of the company to compromise those debts.