Hall Chadwick’s Richard Lawrence.Hall Chadwick’s Richard Albarran. A liquidators’ remuneration application lodged in the Supreme Court of Victoria is being opposed by The Australian Tax Office (ATO) on the basis that much of the work should have been performed by more junior staff.In an 82 page affidavit dated December 21, 2022 ATO senior insolvency advisor Gary Busby outlines six grounds of objection to the remuneration…
Mackay Goodwin’s Mitchell Ball. Mitchell Ball has chosen to abandon a final remuneration claim in the winding up of Speedy Ventilation Pty Ltd (Speedy) after a contributory asked the court to scrutinise the Mackay Goodwin director’s fees going back as far as 2016. “Mr Ball’s application for additional remuneration had the difficulty that, on any view, the remuneration claimed was large by reference to the…
Hall Chadwick’s Richard Albarran. Hall Chadwick partner Kathleen Vouris. Reading the latest report to creditors from the liquidators of Orbis Commodities Pty Ltd, iNO is yet again moved to ponder on the wisdom of forcing appointment takers to provide a life-of-job fee estimate in their initial notice to creditors.When the estimate is between $50,000 and $100,000 and 18 months later the amount being sought exceeds…
Hall Chadwick partner Sule Arnautovic.Dermott McVeigh of Avior Consulting.Back to the drawing board was the message for Avior Consulting’s Dermott McVeigh after a judge refused the Perth-based practitioner’s application for approval of a lift in receivership fees. For Hall Chadwick’s Sule Arnautovic however, who was also in the Corporations List queue on Monday applying for approval of remuneration earned whilst an administrator and receiver the…
WA Insolvency Solutions’ Gary Anderson.WA Insolvency Solutions’ Jimmy Trpcevski. The law is a wonderful thing but on occasion its inevitable frailties can sometimes undermine faith in its efficient operation.In the case of HHA Architects Pty Ltd (HHA) a judge of the Supreme Court of West Australia in July last year found that the company should be wound up and liquidators appointed on the application of…
Hall Chadwick’s Richard Lawrence.Hall Chadwick’s Richard Albarran. As iNO reported back in July, Hall Chadwick partners Richard Albarran and Richard Lawrence are determined to be paid for the work they did on the tempestuous Tauro Capital administration before creditors replaced them in October 2020.At the time iNO speculated that some creditors at least might be just as determined to deny them.We can now report that…
KordaMentha’s Rahul Goyal.KordaMentha partner Michael Korda.A year ago it would’ve been a timid receiver indeed who wouldn’t back him or herself to conjure a surplus if given the opportunity to sell apartment 1306 in the record breaking Opera Residences development at Circular Quay.Further embolden said receiver, or in this case receivers, with hubristic valuations obtained before rate hikes sucked the froth out property prices and…
Rodgers Reidy director Geoff Reidy.Seven years is a long time without a decent drink so liquidator Geoff Reidy will be relieved that a judge has at last granted him leave to imbibe.For the Rodgers Reidy co-founder the court’s approval means he can finally pour himself a pint of fees from the liquidation of Jainti Pty Ltd, a corporate trustee of the Zambito Trust to which…
Cor Cordis partner Jeremy Nipps.Cor Cordis partner Barry Wight.There’s nothing like offering a discount on fees to cut through the confusion a committee of inspection (COI) might be experiencing as a result of a complex remuneration report.“The Chairperson noted that if information is leaked to third parties without the Liquidators’ prior consent, the Liquidators would take appropriate action where necessary.” Cor Cordis Partner Jeremy Nipps.In…
Smith Hancock’sPeter Hillig.Smith Hancock’s Mike Smith.Receivers wondering about the best course to take in dealing with a surplus might, depending on their circumstances, take note of the recent experience of Smith Hancock’s Peter Hillig and Mike Smith. The pair were appointed receivers and managers of the J & Lee Property Group Trust by court order in August 2017, some seven months after the court appointed…