Costs

Administrators, Corporates, Costs, Judgment, Litigation, Restructuring, VA's & DoCA's 2 October 2024

Personal liability for suspension costs dodged

FTI Consulting’s Daniel Woodhouse.Choosing to suspend activities undertaken by a specialist contractor can create risks of the personal liability kind for administrators, as three FTI Consulting operatives discovered shortly after being appointed to Savannah Nickel Mines Pty Ltd (Savannah) in December last year.“The plaintiffs do not dispute that the amounts claimed in respect of suspension costs by the defendant, including the rise and fall component,…

ASIC, Costs, Directors, indemnity, Judgment, Litigation, Receivers 5 July 2024

Court declines to tread crypto’s slippery slope

McGrathNicol’s Anthony Connelly.To stake or to un-stake? That is the cryptic crypto dilemma causing consternation for three McGrathNicol partners in their roles as receivers of the digital currency assets of NGS Crypto Pty Ltd (NGS).“Staking” digital currency is, the internet tells iNO, a way for the currency’s owner to earn more crypto by using the staked amount as a type of security deposit to validate…

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Costs

Personal liability for suspension costs dodged

Costs carve up after Dalma DoCA set aside

Receivers must dip into $600k pot for levies and costs

Court approves liquidators’ decision to disavow

Dalma DAs reach winding up the hard way

Liquidator loses $1.5 million security for costs fight

“Deed of Novation” to cure receiver’s validity issue

Properly contradictory or utterly adversarial?

Redacted indemnity defeats security for costs bid

Court declines to tread crypto’s slippery slope