Arrium: Is it “commercial reality” to conclude that a company is solvent until it is “certain that it cannot pay” its future debts?

Wellard, M

Arrium: Is it “commercial reality” to conclude that a company is solvent until it is “certain that it cannot pay” its future debts?

Wellard, M

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Publisher:: LexisNexis Butterworths
Publication Type:: Journal Article
Citation:: Insolvency Law Bulletin, 2021, 21, (7&8), pp. 90-94
Issue Date:: 2021-10-01

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Field	Value	Language
dc.contributor.author	Wellard, M https://orcid.org/0000-0003-3784-2079
dc.date.accessioned	2021-10-12T05:42:57Z
dc.date.available	2021-09-10
dc.date.available	2021-10-12T05:42:57Z
dc.date.issued	2021-10-01
dc.identifier.citation	Insolvency Law Bulletin, 2021, 21, (7&8), pp. 90-94
dc.identifier.issn	1443-9662
dc.identifier.uri	http://hdl.handle.net/10453/151064
dc.description.abstract	A critical commentary on the NSW Supreme Court's judgment in a large case arising from the Arrium insolvency: Anchorage Capital Master Offshore Ltd v Sparkes (No 3); Bank of Communications Co Ltd v Sparkes (No 2) [2021] NSWSC 1025 ('Arrium'). Arrium addressed an issue often debated but rarely arising for judicial determination: to what degree of certainty (or uncertainty) must a court be satisfied to conclude that a company was solvent at a time when it had a large maturing debt payable in the future?
dc.language	en
dc.publisher	LexisNexis Butterworths
dc.relation.ispartof	Insolvency Law Bulletin
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	1801 Law
dc.title	Arrium: Is it “commercial reality” to conclude that a company is solvent until it is “certain that it cannot pay” its future debts?
dc.type	Journal Article
utslib.citation.volume	21
utslib.location.activity	Australia
utslib.for	1801 Law
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access	*
pubs.consider-herdc	true
dc.date.updated	2021-10-12T05:42:56Z
pubs.issue	7&8
pubs.publication-status	Published
pubs.volume	21
utslib.citation.issue	7&8

Abstract:

A critical commentary on the NSW Supreme Court's judgment in a large case arising from the Arrium insolvency: Anchorage Capital Master Offshore Ltd v Sparkes (No 3); Bank of Communications Co Ltd v Sparkes (No 2) [2021] NSWSC 1025 ('Arrium'). Arrium addressed an issue often debated but rarely arising for judicial determination: to what degree of certainty (or uncertainty) must a court be satisfied to conclude that a company was solvent at a time when it had a large maturing debt payable in the future?

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http://hdl.handle.net/10453/151064