Clearing houses and insolvency in Australia

Examines the High Court of Australia decision in Ansett Australia Holdings Ltd v International Air Transport Association (IATA) on whether a clearing house agreement between IATA and participating airlines was inconsistent with Australian insolvency law on grounds of repugnancy and public policy. Considers whether an amendment to the agreement, introduced in response to the House of Lords decision in British Eagle International Airlines Ltd v Compagnie Nationale Air France, was sufficient to prevent the agreement being struck down.