ERA Legal recently appeared in the Supreme Court of New South Wales on an application to have the solvency of a company determined as a separate question in proceedings commenced against 27 defendants to recover payments the liquidators claim those parties received from the company as preference payments.
After hearing from ERA Legal for the liquidators His Honour Justice Brereton agreed with the submissions made and held that the evidence “amply justified” a finding that the company was insolvent at the time.
This finding is a significant step forward in the proceedings for the liquidators. The finding means the matter can proceed to the next stage in which the court will decide whether the defendants are able to avail themselves of any of the defences filed.
The hearing was run by ERA Legal without using a barrister notwithstanding the size of the claim, the multiplicity of parties and the complexity of the evidence.
For more information please contact Blake O’Neill or Simon Gallant
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