Corporates

Liquidator can’t overcome conflicted claims

John Sheahan of Sheahan and Lock. Well this is rich. Directors conflicted to their eyeballs, objecting to a liquidator’s application to be appointed liquidator on the basis that he’d be conflicted. And a judge agreeing. Of course, in an administration involving an impugned corporate group, dubious inter-company loans, deeds of settlement and of release, Swiss accounts and Israeli banks, industrial-scale tax avoidance and jurisdictional departures,…

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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…