LK Blog

The LK Blog aims to provide timely analysis and commentary on decisions of interest from the leading appellate courts and important industry developments.


Not Measuring Up – the Federal Court of Australia Finds that the Conduct of a Liquidator Falls Short of the Standard of Reasonable Care and Diligence

The decision of the Federal Court of Australia in Commissioner of Taxation v Iannuzzi (No 2) [2019] FCA 1818 (‘Iannuzzi’) considered the scope and content of a liquidator’s standard of reasonable care and diligence.  The liquidator in question was found…

Madeleine Harland

Dead and Finally Laid to Rest: Supreme Court Nails the Stone & Rolls Coffin on the Issue of Attribution and Illegality

The United Kingdom Supreme Court recently handed down its decision in Singularis Holdings Limited (In Official Liquidation) v Daiwa Capital Markets Europe Limited [2019] UKSC 50, [2019] 3 WLR 997, a dispute arising from the Saad Group collapse. In this…

Madeleine Harland and Vaiben Lipman

The Long Arm of English Insolvency Law: Does Section 236(3) of the Insolvency Act Extend to Persons Abroad?

The recent decision of the High Court of England and Wales in Wallace v Wallace [2019] EWHC 2503 (Ch) (‘Wallace’) explores the interesting question of whether the evidence gathering powers available to a Liquidator under section 236(3) of the Insolvency…

Madeleine Harland and Anne Mignone

Unlawful Means Conspiracy: Is Knowledge of Unlawfulness Needed?

Claims for unlawful means conspiracy are enjoying a rise in popularity. There are a number of potential reasons for this, including the rise of large scale cross-border fraud where a wide-ranging cause of action may appear attractive to capture increasingly…

Lucas Arnold and Hana Kapadia

High Court Hands Down Wide Ranging Judgment Concluding Long Running Proceedings in the Burnden Litigation

On 19 June 2019, Zacaroli J handed down a judgment concluding the long running proceedings brought by Burnden Holdings (UK) Ltd (“BHUK”) and its liquidator against two former directors, Mr and Mrs Fielding (the “Fieldings”), in respect of a grant…

Caroline Mattin

High Court Confirms that the Corporations Act Priority Scheme Applies to Insolvent Corporate Trustees

Section 433 of the Australian Corporations Act 2001 (Cth) (Corporations Act) provides that, in respect of property subject to a circulating security interest, payment of certain debts has a priority over others.  One category of debts which has priority is…

Allie Umoff

Interim Relief in Aid of Arbitral Proceedings: Mutual Assistance between Mainland Chinese and Hong Kong Courts

The Arrangement Concerning Mutual Assistance in Court-ordered Interim Measures in Aid of Arbitral Proceedings by the Courts of the Mainland and of the HKSAR (the “Arrangement”), signed by the Mainland Supreme People’s Court (the “SPC”) and the HKSAR Department of…

Brooke Holden and Jenna Yuen

Hong Kong Court of Appeal Looks to English and Australian Case Law on the Test for Setting Aside Judgments Obtained by Fraud

The Hong Kong Court of Appeal in Mayer Corp Development International Ltd v Alliance Financial Intelligence Ltd [2019] HKCA 777 (Mayer v Alliance) has addressed the principles applicable to setting aside judgments obtained by fraud. In doing so the Court…

Mark Giddings and India Short

Court of Appeal Takes a Hard Look in the Mirror: the Policy Behind Reflective Loss

The Court of Appeal of the Cayman Islands handed down its decision in Primeo Fund (In Official Liquidation) v Bank of Bermuda (Cayman) Limited and HSBC Securities Services (Luxembourg) SA CICA (Civil) Appeal No. 21 of 2017 on 13 June…

Andrew Tarnowskyj and Seamus Brand

Fraud Trumps Finality: Supreme Court Rejects Due Diligence Requirement in Challenge of Judgment Obtained by Fraud

The United Kingdom Supreme Court has handed down its much anticipated judgment in Takhar v Gracefield Developments Ltd [2019] UKSC 13 (‘Takhar’). The appeal concerned the test for the admission of fresh evidence in a collateral attack on a judgment…

Mark Giddings, Bimaya De Silva and Natasha Wilson-Beddoe


Lipman Karas Pty Ltd
Level 23
25 Grenfell Street
Adelaide 5000
Visit us | Email us
Telephone: +61 8 8239 4600

Hong Kong

Lipman Karas
Level 23
Three Pacific Place
1 Queen's Road East
Hong Kong
Visit us | Email us
Telephone: +852 3761 3900


Lipman Karas LLP
Holborn Gate
26 Southampton Buildings
London WC2A 1AN
United Kingdom
Visit us | Email us
Telephone: +44 20 7400 2180
Back to top