Date: Wednesday, 4 November 2015
Time: 12.30pm – 2pm
Venue: Governance Institute, Ground Floor, 8 Victoria Avenue, Perth
CPD Hours: 1.5
The downturn in Western Australia is causing financial hardship in many sectors of the economy. External administrations of private companies are on the rise, and this is accompanied by an increase in the amount of activity involving the sale of distressed assets and businesses. The purchase of a business or asset from a voluntary administrator or liquidator can be part of a reconstruction strategy initiated by the stakeholders in a business. Alternatively, it can be a golden opportunity for a third party to make an acquisition. In either case, transactions involving an insolvent or potentially insolvent company can expose the parties to risks that must be clearly understood before they commit themselves to a bargaining process.
The aim of this session is to:
- explain the risks of transactions associated with corporate insolvency; and
- highlight the steps, to be taken and avoided, to ensure transactions don’t expose parties to costly legal action or prosecution.
Why should chartered secretaries, governance advisers and risk managers attend?
The difference between a legitimate turnaround strategy, and a transaction whereby company directors wrongfully cause the business of an insolvent company to be taken over by a new entity – a “phoenix” company – can be surprisingly small. Transactions can be rendered void and set aside, and in some cases company officeholders can face scrutiny from external administrators and regulators, if decision makers do not understand what can lawfully be done when a transaction involves an insolvent or potentially insolvent party.
Attendees will benefit from the practical nature of the talk supported by case studies and the opportunity to ask questions in a relaxed environment.
About the speaker:
Tom Darbyshire, Managing Partner, Kott Gunning
Tom became a partner at Kott Gunning in 2002 specialising in commercial litigation with an emphasis on insolvency, competition and consumer law, conflicts of law and e-commerce.
He is a graduate of the Insolvency Practitioners Association of Australia’s Advanced Law and Solvency course. He has substantial experience in conducting both recovery and insolvency actions in the Western Australian Supreme Court and frequently advises external administrators, creditors, company directors and others on the recovery of debts, the enforcement of securities and director’s duties in an insolvency context.
Tom is a member of the Law Society of Western Australia and ARITA.
For more information and to register please click here