Restructuring

VAs defeated on fees but chair casts in DoCA’s favour

Hall Chadwick partner Kathleen Vouris. Last week saw one of those scenarios – not entirely uncommon – where the chair of a deadlocked meeting has to give effect to the phrase “creditors will determine the future of the Company”. As well as defenestrating the spirit of the term in its purest sense, chairman or chairwomen choosing to use their power to break a deadlock invariably…

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ARITA, TMA square off over SME reforms

TMA Australia President Carl Gunther. There’s nothing like starvation, marinated in the promise of feasts to come, to expose the rifts between rivals. To wit the recent outbreak of unpleasantries between the Australian Restructuring and Turnaround Association (ARITA) and the Turnaround Management Association (TMA), which began after ARITA announced late last month that it had detected a potential issue with section 588GAAA Safe harbour— temporary…