Creditors

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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Win over notice to produce not end for embattled IP

Chifley Advisory’s Gavin Moss. The Federal Court this week granted a liquidator’s application to have a notice to produce set aside and ordered the issuer to pay indemnity costs. Then the court reapplied the acid via discovery. In setting aside the notice to produce the court also granted the issuer discovery, so the liquidator will still have to divulge much, though not all of the…