Fees

$45k per month to store HIH records

McGrathNicol’s Jason Preston. McGrathNicol’s Kathy Sozou. McGrathNicol’s Jason Preston is drawing excruciatingly close to concluding the two decades long winding up of the HIH insurance group and as has emerged this week, the end can’t come soon enough with hefty administration costs termiting what funds remain. “We have obtained orders to allow the destruction of the records 90 days after deregistration of the head company…

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Liquidator of LMIML challenges receiver’s fees

FTI Consulting’s John Park. LMIML receiver David Whyte. If recently retired BDO partner David Whyte ever thought the finalisation of his work as receiver of LM Investment Management Limited (LMIML) would be uneventful, then FTI Consulting’s John Park has well and truly disabused him of that notion. In recent months Park has, as liquidator of LMIML, challenged Whyte’s remuneration claims, with the most recent challenge…