FEG

Receivers at odds over residual funds

Pitcher Partners’ Bryan Hughes. Auxilium Partners’ Bob Jacobs. Over in West Australia there’s been an interesting development in the stoush between the current and former receivers of Pluton Resources over the status of, and entitlement to, so-called residual funds. In Robert Allan Jacobs as Receiver and Manager of Pluton Resources Ltd (Receiver and Manager Appointed) (In Liq) -v- Hughes [2018] WASC 414 (9 August 2019)…

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$2 million priority dividend not enough to fend off FEG

David Solomon and Riad Tayeh may be preparing to pay a $2 million dividend to a priority creditor of 1st Fleet Pty Ltd (in liquidation) but that hasn’t stopped that same creditor belting the dVT partners with litigation that had its first airing in the courts this week. No details were ventilated when the matter came on for first directions on Wednesday but Minutes of the…