Jirsch Sutherland Melbourne partner Glenn Crisp has had a win of sorts over the Deputy Commissioner of Taxation (DCoT) in regards to his tenure, his fees and a proposed litigation funding agreement. In the matter of Imagebuild Group Pty Ltd [2019] VSC 213 (5 April 2019) we get a detailed breakdown of why the DCoT regarded Crisp’s claims for remuneration as excessive and how Crisp…
The dollars have clearly been pouring into ASIC’s industry funding account in recent days. How else to explain the halving in the sum of liquidator levies in arrears between last week and yesterday? On Friday the regulator alerted the profession that while invoices issued to “the registered liquidators sub-sector totalled approximately $6.8 million”, it had as at March 18, 2019 collected approximately $6.4m. Even a…
SV Partners’ Jason Porter has won an order for his remuneration but been denied a sum he was seeking for the lawyers who’ve been acting for him In the matter of Day & Night Online Transport Pty Ltd [2019] NSWSC 292. The outcome followed NSW Supreme Court judge Kelly Rees yesterday ruling on the ticklish question of whether a solicitors’ fees may be approved as…
McGrathNicol’s Matt Caddy. McGrathNicol’s Rob Kirman. This is one for the lawyers, and for those with a keen interest in the operation of that devil of the Corporations Act – at least in the eyes of certain secured creditors – Section 561. In the Federal Court yesterday, a decision was handed down in Kirman v RWE Robinson & Sons Pty Ltd (in liq), in the…
Chan & Naylor’s John Kukulovski. Liquidator John Kukulovski is resisting an application for an order that his fees and expenses be reviewed after a court terminated the Deed of Company Arrangement (DoCA) he was appointed to administer and ordered that any winding up of Mt Hira Investments Pty Ltd be stayed. Kukulovski was appointed voluntary administrator (VA) of Mt Hira on October 3 2018 and…
EY’s Marcus Ayres. As many as four receivers may have found themselves in the sights of Gennaro Autore following the commercial property investor’s emergence from a mezzanine structured loan arrangement with Tasmanian millionaire Greg Woolley. Although details are currently elusive, INO can report that lawyers for Autore’s Graaf Pty Ltd appeared before Justice Ashley Black in the NSW Supreme Court on Monday this week seeking…
BRI Ferrier’s Peter Krejci. CORRECTION: INO’s coverage last week may have led readers astray in conveying the impression that BRI Ferrier’s Peter Krejci and Brian Silvia were replaced as administrators of GR Capital. They weren’t. They refused to recommend a DoCA proposed by the director and related interests. Sufficient numbers of creditors however insisted it be accepted and obtained a consent from SV Partners’ Jason…
Fees excessive – Liquidator John Sheahan. Remuneration is a topic never far from the frontal lobe of INO’s audience and thanks to liquidators John Sheahan and Ian Lock and Federal Court judge Tony Besanko, 2019 has started with a decision guaranteed to get synapses firing. On Monday Justice Besanko delivered his judgment in Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No…
SV Partners’ Darren Vardy and Jason Porter have been stung by an adverse judgement that could require them to find at least $200,000 without recourse to the assets of SPC & Co Pty Ltd, the company to which they were appointed liquidators via CVL in August 2017. Much of the detail in this protracted fight for fees by barrister Ventry Gray can be gleaned from the judgment…
Cor Cordis partners Ozem Kassem and Jason Tang have had the fees they generated as administrators of Attack Engineering Pty Ltd lopped following objections by Steve Nicols, who replaced them when the company was wound up. Kassem and Tang were appointed administrators of the Coffs Harbour-based firm on August 29, 2017 after receiving a referral from Shine Lawyers’ James Hulbert. That appointment followed winding up proceedings initiated by the Australian…