Hot Topics

Deed Administrators

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…

Read More

Administrators, Costs, Deed Administrators, DIRRIs, Judgment, Liquidators, Preferences, Voidable Transactions 12 July 2023

Liquidator’s bid to tap Suitors Fund refused

PKF partner Simon Thorn. A NSW Supreme Court decision has visited total defeat upon liquidator Simon Thorn almost two years after a Local Court magistrate delivered him victory. In BounceLED Pty Ltd v Clear Skies Corp Pty Ltd (in liq) (No 2) [2023] NSWSC 810 judge Mark Richmond yesterday ruled that not only should Thorn pay BounceLED Pty Ltd’s (BounceLED) costs on the ordinary basis…