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Creditors

Administrators, Corporates, Creditors, Deed Administrators, Litigation, VA's & DoCA's 24 April 2024

Owners Corp seeks to terminate “cram down” DoCA

Is it a cram down or is it not? That’s the question a judge will have decide if proceedings currently afoot in the NSW Supreme Court are not soon resolved. And if the dispute goes to hearing the outcome could see two incumbent deed administrators (DAs) punted, a DoCA terminated and a mid-tier builder wound up. The matter came to iNO’s attention last week when…

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Creditors, Fees, indemnity, Independence, Judgment, Liquidators 6 March 2024

Judge chooses cheapest, unfunded option

KPT Restructuring’s Jason Tang. KPTB Restructuring’s Ozem Kassem. 2024 has opened with a rash of contests between parties who want their preferred liquidator installed in preference to their opponent’s nominee and this week the trend persisted, with a twist. On Monday 8 Wentworth’s Ahmed Rizk urged Judge Tony McGrath to reject his opponent’s nominee on the basis that those on the other side refused to…