Assaf's Winding Up in Insolvency

Comprehensive Overview of "Assaf's Winding Up in Insolvency" by Farid Assaf SC

Author and Edition: The book "Assaf's Winding Up in Insolvency" is authored by Farid Assaf SC, a leading Australian insolvency barrister. The third edition was published in 2021 by LexisNexis Australia, Sydney, and it spans 1012 pages.

Key Themes:

1. Comprehensive Treatment: The book provides a comprehensive treatment of all aspects of winding up in insolvency, making it a practitioner-focused reference text.
2. Establishing Insolvency: It includes detailed discussions on how to establish insolvency, covering various presumptions of insolvency and practical steps to determine actual insolvency.
3. Statutory Demands: The book delves into the substantive and formal requirements of statutory demands, as well as the process of setting aside such demands due to genuine disputes, offsetting claims, or defects in the demand.
4. Cross-Border Aspects: It explores cross-border insolvency aspects, including the winding up of Part 5.7 bodies under the Corporations Act.
5. Impact of Legislation: The book discusses the impact of new legislation, particularly the Corporations Amendment (Corporate Insolvency Reforms) Act 2020, which introduces a debtor-in-possession model of insolvency and restructuring.

Plot Summary:

The book is structured to guide practitioners through the complex process of winding up a company in insolvency. It begins with an overview of key concepts, the statutory framework, and the history of insolvency laws in Australia. The subsequent chapters delve into specific aspects such as establishing insolvency, statutory demands, and the procedures for setting aside these demands. The book also covers the process of opposing and restraining winding-up applications and staying or setting aside winding-up orders. The final chapters focus on cross-border insolvency aspects and the winding up of Part 5.7 bodies under the Corporations Act.

Critical Reception:

While there is no detailed critical review available in the search results, the book is described as a scholarly and detailed work that reflects the author's extensive experience in the field of insolvency law. The addition of two new chapters in the third edition, focusing on establishing insolvency and cross-border aspects, indicates a significant update to the previous editions. The book is recommended for practitioners seeking a comprehensive guide to winding up in insolvency.

Overall, "Assaf's Winding Up in Insolvency" is a seminal work in the field of Australian insolvency law, providing practitioners with a thorough understanding of the complex processes involved in winding up companies. Its detailed coverage and practical guidance make it an essential reference for anyone navigating the intricacies of insolvency law in Australia.