dVT Group’s David Solomons. dVT’s Riad Tayeh dVT duo Riad Tayeh and David Solomon are in for an intriguing tussle in 2020, with millions of dollars in fees the pair generated as liquidators of the 1st Fleet Group potentially at stake. Back in October last year the dVT pair commenced action in the Federal Court, seeking declarations that the appointment of various people to the…
BDO’s Andrew Sallway. Andrew Sallway and Nick Martin have finally obtained clarity around their remuneration on what the BDO pair might privately concede has been one of the more onerous exads of their careers. iNO is speaking of Mossgreen Pty Ltd, which dragged Sallway, Martin and ex-BDO partner James White into a nether world of vendors, consignors and inadequately catalogued inventory after they were appointed…
Liquidator Peter Amos (L) leaving the NSW Supreme court with his lawyer Keiran Breckenridge. There were awkward moments in the witness box for Peter Amos last week as he responded to questioning about his time as voluntary administrator (VA) of All City Recycling. Amos got the gig as VA in September 2018 but by December had been replaced upon the application of a creditor. The…
HLB Mann Judd’s Todd Gammel A judge’s comments have sounded yet another warning to lawyers about over egging the pudding, in this case in terms of advising on subpoena compliance. In the matter of Lainson Holdings Pty Limited [2019] NSWSC 1446 NSW Supreme court judge Kelly Rees was determining an application Lainson Holdings‘ receivers and managers had made for a gross sum costs order. “His…
PCI Partner’s John Melluish. KordaMentha’s Rahul Goyal. KordaMentha’s Rahul Goyal and Jennifer Nettleton are encountering stiff resistance to their application for orders approving payment of around $400,000 in fees generated from work they’ve performed as special purpose liquidators (SPLs) of ACN 154 520 199 Pty Ltd, formerly named ABC Refinery Pty Ltd. In the Federal Court on Wednesday barrister Steven Golledge told the court that…
Sean Wengel of William Buck NSW. When a court orders receivers’ fees be capped at $30,000 and they subsequently bill for $200,000, you know something somewhere has gone way way wrong. In the matter of Shanmugathaas & Anor v Paramanirupan & Ors [2019] NSWSC 1219 we may be seeing another example of how the new powers bestowed upon creditors by ILRA 2016 will sometimes generate…
BPS Recovery partner David Sampson. Image courtesy BPS Recovery. BPS Recovery partner David Sampson has at last got the go ahead to pay himself some remuneration for work done as court-appointed receiver of a suite of barrister’s chambers. Sampson has had to go through a lot to get to this point, including fending off multiple applications by the chamber’s occupant Derek Minus, all of which…
Liquidator John Sheahan. Federal Court Judge Tony Besanko has detonated the judicial equivalent of small nuclear device in the vicinity of Ian Lock and John Sheahan, ruling the pair must repay 30 per cent of almost $5.8 million in fees that they’ve been paid as administrators and liquidators of the Cedenco JV Australia Group. In determining the quantum of the reduction – first flagged in…
Hamilton Murphy principal Richard Rohrt. Pitcher Partners’ David Vasudevan. The spectre of proportionality has made an appearance in the deliberations of the Victorian Supreme Court, resulting in Pitcher Partners’ Andrew Yeo and David Vasudevan copping a pay cut of more than $25,000. In Re Nissand Pty Ltd (in liq) [2019] VSC 280 (10 May 2019) Judicial Registrar Patricia Matthews found that while more than $131,000…
Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. When you’ve accepted an interim appointment by court order for an explicit purpose it’s best not to undertake work not the subject of said order, particularly if there’s a chance that your subsequently contested remuneration claim might be assessed via application of the so-called “broad axe” wielded by NSW Supreme Court Judge Paul “Proportionality” Brereton. Sadly…