Fees

To trust creditors, or to all – that is the question

In all the excitement surrounding the Kilarnee and Amerind cases, similar questions about rights of indemnity and exoneration as they apply to trustees have been somewhat overlooked in the bankruptcy context, but the issues have been ventilated, most recently in Lane (Trustee), in the matter of Lee (Bankrupt) v Commissioner of Taxation (No 3) [2018] FCA 1572 (19 October 2018). This one involves a preference paid…

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Liquidators capitulate to creditor as costs climb

There’s nothing like a review of remuneration, as ordered by Justice Paul “Proportionality” Brereton, to cull the swagger from an IP’s stride and this week it was Mackay Goodwin’s Domenic Calabretta and Grahame Ward stepping carefully as court was convened. In the matter of Securimax the pair have been on eggshells since August 2017 when Justice Brereton concluded that if administrators get 66 per cent of the…