Preview: Change to Insolvency Law: High Court Rejects Peak Indebtedness Rule with Michael Gronow KC and Reegan Grayson Morison
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In this edition of BenchTV, Michael Gronow KC (barrister) and Reegan Grayson Morison (barrister) discuss the High Court determinations on continuing business relationships and the peak indebtedness rule in Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2.
Discussion Includes:
- Main issues in High Court decision
- Peak indebtedness rule
- Continuing business relationships
- Background facts of the case
- Stages of litigation – trial at first instance
- Appeal to Full Court
- High Court appeal
- Contemplating the end of a continuing business relationship
- Difference between Full Court and High Court analysis
- Other issues
Presenter Profiles
Michael Gronow KC Reegan Grayson Morison
BIBLIOGRAPHY
Focus Case
Judgment Link
https://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCA/2023/2.html
Cases
- Airservices Australia v Ferrier [1996] HCA 54
- Metal Manufactures Pty Limited v Morton [2023] HCA 1
- Rees v Bank of New South Wales [1964] HCA 47
- Sutherland v Eurolinx Pty Ltd (2001) 37 ACSR 477
- Timberworld Ltd v Levin [2015] 3 NZLR 365
Legislation
- Bankruptcy Act 1966 (Cth)
- Corporations Act 2001 (Cth)
- Corporations Act 1989 (Cth)