Marcus Watters of Hall Chadwick. Hall Chadwick partner Marcus Watters is seeking to fend off an application for a judicial inquiry into his conduct of the sale process for the Carvers Reach development in Queensland. Court documents reveal that plaintiffs CIP Group, CIP 1 Pyrmont Portfolio and Marc Clancy are seeking orders for an inquiry into various “acts and omissions” they allege were perpetrated by…
Mackay Goodwin’s Mitchell Ball. Mitchell Ball has chosen to abandon a final remuneration claim in the winding up of Speedy Ventilation Pty Ltd (Speedy) after a contributory asked the court to scrutinise the Mackay Goodwin director’s fees going back as far as 2016. “Mr Ball’s application for additional remuneration had the difficulty that, on any view, the remuneration claimed was large by reference to the…
Wexted Advisors founder and principal Joe Hayes. Wexted Advisors partner Andrew McCabe. Reaping almost $130 million from the sale of public houses looks like an exceptional result for a pair of Sydney receivers but a decision to affirm a director’s unit trust holding could see distribution of the profits disrupted by a Special Purpose Liquidator (SPL). Since December 2021 when they were appointed receiver managers…
BRI Ferrier’s David Coyne. Former Barokes liquidator James Koutsoukos. A judge of the Supreme Court of Victoria has cracked a can of hurt after approving an application by a creditor to bring proceedings in the name of the company against the company’s liquidators. Whilst ruling that the creditor must agree to indemnify the company in liquidation again any adverse costs, Justice Richard Attiwill found that…
Wexted Advisors partner Andrew McCabe. Wexted Advisors founder and principal Joe Hayes. Lavishing creditors with a fat dividend on the eve of the festive season is no doubt an aspiration close to the heart of every insolvency practitioner, so one can imagine the distinctly unChristmas-like sentiments that must have echoed through the Pitt Street offices of Wexted Advisors early Monday morning. Unwelcome correspondence had arrived…
Being non-committal can get a liquidator a long way. After all, far from sitting on the fence, neither consenting or objecting can show that the external administrator is prudently preserving powder in circumstances where there may be no fight to have. But neutrality only gets you so far unless you’re Swiss, and when tricky and contested questions around the proceeds of asset dispersals emerge, the…
BRI Ferrier partner Peter Krejci. Dealing with the disgruntled is part and parcel of any practitioner’s daily grind but sometimes an example of resistance emerges that stands out as an exemplar of its kind. In the ongoing tussle between ENA Development Pty Ltd liquidator Peter Krejci and a Mr Robert Sebie, Krejci and his lawyers at ERA Legal have had to repel allegations of conflict…
WA Insolvency Solutions’ Gary Anderson. WA Insolvency Solutions’ Jimmy Trpcevski. The law is a wonderful thing but on occasion its inevitable frailties can sometimes undermine faith in its efficient operation. In the case of HHA Architects Pty Ltd (HHA) a judge of the Supreme Court of West Australia in July last year found that the company should be wound up and liquidators appointed on the…
Hall Chadwick’s Richard Lawrence. Hall Chadwick’s Richard Albarran. As iNO reported back in July, Hall Chadwick partners Richard Albarran and Richard Lawrence are determined to be paid for the work they did on the tempestuous Tauro Capital administration before creditors replaced them in October 2020. At the time iNO speculated that some creditors at least might be just as determined to deny them. We can…
Marcus Watters of Hall Chadwick. Hall Chadwick’s Richard Albarran. You would think that having convinced a court to declare a general security agreement (GSA) invalid and thereby ridding oneself of the receiver appointed pursuant to that GSA, that a director might be as it were, in the clear. Well not necessarily, and not in the case of Jin Resources (Aust) Pty Ltd (Jin) director Richard…