Restructuring & Insolvency

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• IATA clearing house regulations in breach of British Eagle principle

  Article

  Last Reviewed: 30 March 2007 / Submitted: 30 March 2007

  The Victoria Court of Appeal has held that the IATA Clearing House Regulations were in breach of the House of Lords decision in British Eagle. The British Eagle principle was also held to apply not only to liquidations, but universally to bankruptcy regimes including administrations and company arrangements.

• Future sale contracts cannot determine insolvency under Australian law

  Article

  Last Reviewed: 12 July 2006 / Submitted: 12 July 2006

  Under New South Wales law, entering into a future sale contract would not be taken into account in determining the insolvency of a company.

• International Air Transport Association v Ansett Australian Holdings Limited and others

  Article

  Last Reviewed: 20 January 2006 / Submitted: 20 January 2006

  The Supreme Court of Victoria has held that the International Air Transport Association was a creditor of an insolvent airline in respect of payments due under the IATA clearing house. The House of Lords’ decision in British Eagle International Airlines v Compagnie Nationale Air France [1975] 1 WLR 1758 was distinguished on the basis that changes had been made to the IATA regulations since that decision.

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