Present solvency and future debt: the relevance of future debt in determining solvency

Sam Johnson, Emily Barrett, Caitlin McTaggart and Madison Copland of Johnson Winter Slattery share that the Supreme Court of New South Wales has issued unusual orders ending the administration of a company by authorising the directors to execute a refinancing agreement to restore the company to solvency, noting that the terms of the refinancing proposal were central to the Court’s decision, including, in particular, whether debts arising at the date of appointment were discharged.

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