Costs

Trustee goes halfway in correcting judge

Telling an insolvency practitioner their application for additional remuneration is “misconceived” is like telling Bill Shorten his plan for getting the ALP into power would work if only the plan’s primary beneficiary wasn’t himself. Red rags ain’t in it. So when an eminence of the Federal Circuit Court in Tasmania told trustee Brett Harrison that his application for a modest sum of future additional remuneration…


Failed appeal follows imprudent refusal

Hall Chadwick partner Blair Pleash. When you’re being funded to pursue litigation, it’s not difficult to double down and appeal after a stinging loss. For Hall Chadwick partner Blair Pleash, trying to cajole a ceasefire from the bowels of defeat has meant being bitten twice in a month after the Federal Court of Appeal last week dismissed his bid to overturn a ruling rejecting his…


Ousted VA extracts fees despite demands for costs

Greyhouse Partners’ Ben Verney. Commercial judgment appears to have won out in respect of a dispute over the fees of a former voluntary administrator (VA) who refused to comply with a costs order while his remuneration remained unapproved. The recently resolved stand off involved Greyhouse Partners Ben Verney, who was formerly voluntary administrator (VA) of Icon Construction Australia (NSW) Pty Ltd (ICA NSW), the company’s…


Forum judge lashes “wheel spinning” lawyers

Justice Michael Lee. When a judge describes lawyers fee estimates as “massively excessive” you have to wonder why such a wrecking ball descriptor is prefaced with the phrase “with respect”? Condemnation of legal fees reeking of avaricious opportunism however is not an issue from which Federal Court judge Michael Lee shies away. “I don’t want there to be wheel spinning correspondence between solicitors.” Justice Michael…


Fee-asco a familiar feature of Modscape saga

Menzies Advisory’s Michael Caspaney. Cor Cordis partner Rachel Burdett. There are so many elements to the Modscape Pty Ltd saga that it’s difficult to know which strand to yank first but in homage to our abyssal tabloid instincts iNO will commence with the most recent, involving a former liquidator of the company whose fees and costs are under review. That review has been brought by…


Solvency reports excoriated as funder stung for costs

Cor Cordis partner Andre Lakomy. A falling out between Sydney lender Graham Werry and notorious Kiwi businessman Mark Bryers has led a judge to mete out more punishment to litigation funders, and for good measure she’s also torn strips off a certain liquidator’s solvency reports. In the matter of Wetherill Park Holdings Pty Ltd (No 2) [2021] NSWSC 1397 NSW Supreme Court judge Kelly Rees…


“Imprudent refusal” earns indemnity costs

Hall Chadwick partner Blair Pleash. An “imprudent” decision to refuse a Calderbank Offer has rebounded on Hall Chadwick partner Blair Pleash, who’s been ordered to pay a hefty costs order on an indemnity basis for the period from February 2020 to April 2021. “They further contended that the lack of response to the offer on the part of the plaintiffs was an “imprudent refusal of…


Liquidator spared half million in indemnity costs

Despite his legal team pitching arguments that were said to have at times lacked clarity, a Sydney liquidator has been spared the ignominy of paying up to $500,000 in indemnity costs for a failed attempt at replacing a receiver. Instead, NSW Supreme Court justice Kate Williams has ordered that the costs of the defendants In the matter of Sirrah Pty Limited (In Liquidation) (No 2)…


BBY duo conclude long adjourned remuneration bid

KPMG partner Stephen Vaughan. KPMG Partner Ian Hall. The interim divvie’s distributed, it’s twin awaits only delivery of a judgment reserved and now an application for remuneration – brought by BBY Limited’s liquidators Stephen Vaughan and Ian Hall in 2017 and adjourned in 2018 – has at last come to pass. “The total value of the assets (CSAs and recoveries) for which the liquidators have…


Half mill in costs pending after attack on receiver fails

Farshad Amirbeaggi. Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. A liquidator’s estimate of a return to creditors of between 51 cents and 100 cents in the dollar may have been imperilled after attempts to appoint a receiver to sell a luxury property in Bali were rejected by the courts. In failing to have a receiver appointed Hayes Advisory principal and liquidator of Sirrah…