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Conflict, Creditors, Independence, Lawyers, Liquidators, Litigation, Preferences, ProvLiqs, Receivers, Voidable Transactions 19 April 2024

Court hears KM trio can’t be DCA ProvLiqs

KordaMentha’s Scott Langdon. KordaMentha partner Jennifer Nettleton. The Federal Court has heard that three KordaMentha partners are in breach of the Corporations Act (The Act) because they consented to be appointed as provisional liquidators (ProvLiqs) of companies, the property of which they already controlled as receiver managers. Acting for a group of investor/creditors of DCA Capital Pty Ltd . . . Restricted Content Dear Reader,…

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Administrators, Conflict, Corporates, Costs, Creditors, Directors, Independence, Judgment, Liquidators, Litigation, VA's & DoCA's, Voidable Transactions 15 November 2023

DoCA focus meant liquidation option ignored

David Levi. If you’re appointed administrator of a company subject to a creditor’s statutory demand and indicate a preparedness to have adjourned the winding up application on foot, it makes sense to turn up with your boxes ticked. Last Friday a court dealt with a practitioner who didn’t. “At the risk of stating the blindingly obvious if I assume I’m gong to win the lottery…