Conduct

Termination stayed after funding conundrum resolved

DW Advisory’s Anthony Elkerton. Orders terminating an unjustifiably prejudicial DoCA and appointing liquidators have been stayed after the parties worked out how to prevent the incumbent deed administrators from consuming the entirety of the deed fund in the event the deed proponent appeals. In the matter of Academy Construction & Development Pty Ltd (subject to Deed of Company Arrangement) [2024] NSWSC 842

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Judge punts trustee but no misconduct alleged

The following tale, drawn from a recent Federal Court judgment, might be viewed as a handy guide on how to frustrate a bankruptcy trustee into an error, though the determining judge made a point of noting that her decision was not based on misconduct on the trustee’s part, or for that matter on the bankrupt’s undeniable recalcitrance. No indeed. Irreconcilable differences are the culprit, as…