HM Advisory’s Cameron Gray. The US directors of Mawson Infrastructure Group Inc (MIGI) have been denied leave to set aside the W Capital Advisors DoCA and ordered to pay their opponents’ costs. Given they’ve yet to provide MIGI’s Australian liquidator with the company’s books and records despite having 18 months to do so, the process of recovering those costs might yet provide further grist for…
Victorian liquidator Peter Goodin. Judicial distaste for adjournment applications brought on the eve of winding up hearings hasn’t discouraged everyone from rolling the dice, and as long as creditors don’t end up paying we say good on these enterprising mavericks for having a crack. That said, they should at least come to court with some means to persuade the bench. On Monday lawyers for Magnetic…
RSM director Travis Kukura. It was the receivers’ application but the lawyers’ fees that garnered the court’s attention and, as it turned out, its approbation. “for the reasons set out in the Primary Reasons and given the amounts owed to the creditors of the Company and the Fund, being an initial debt of less than $6,000, the number of creditors (two) and the value of…
Hall Chadwick WA partner Cameron Shaw. Hall Chadwick’s Richard Albarran. Don’t ask a court to vindicate a proceeding that puts a creditors trust at risk for a modest return. That’s the lesson learned by Cameron Shaw and Richard Albarran last week after their failure to convince a court that they’d be justified in commencing a proceeding against Victory Minerals (Victory), operator of the Ballarat Gold…
Worrells Roberto Crispino. A federal court judge who was prepared to invoke the S532(2) exception so as to allow a number appointments to remain under the control of members of the Hall Chadwick partnership was not prepared to allow the costs of the exercise to be borne by the affected creditors. In Crispino (liquidator), in the matter of Universal Steel Pty Ltd (In Liquidation) [2026]…
Jones Partners principal Bruce Gleeson. Hall Chadwick’s Richard Albarran. When $5,000 all that’s been paid to cover remuneration you can be sure a liquidator of the calibre of Richard Albarran won’t ignore cash sitting in a court bank account waiting to be claimed but as a recent judgment of the NSW Supreme Court shows, even Hall Chadwick’s most prominent partner can’t win over a judge…
Worrells Nathan Deppeler. Worrells Scott Andersen. If liquidators put up half-hearted opposition to an application was there any point opposing it at all? Nathan Deppeler and Scott Andersen either thought so or were persuaded by their lawyers to offer only modest resistance in respect of an application by an interested party wanting to be heard on their application for judicial directions. The Worrells pair are…
SV Partners’ executive director Michael Carrafa. SV Partners‘ executive director Michael Carrafa is appealing the reputational evisceration he was dealt in December by Supreme Court of Victoria judge Clyde Croft, who ruled that Carrafa had breached his duties as liquidator of Gemwood Projects Pty Ltd (Gemwood) by prosecuting litigation he knew to be hopeless. As reported by iNO in January the judge had dismissed Carrafa’s…
PKF partner Simon Thorn. We don’t know if it’s a testament to the generally high standards maintained by Australian liquidators or an indictment of ASIC’s stretched enforcement capability but up until last month there hadn’t been a referral to a disciplinary committee under section 40-50 of Schedule 2 to the Corporations Act in almost four years. The last time a Committee was convened to deliberate…
Vincents director Nick Combis. Nick Combis’s 15 years of torment as receiver of the White Rook and White Horizon trustee partnership has finally come to an end and after all of the unexplained delays and unnecessary litigation he’s managed to walk away with the bulk of his remuneration intact. “it is difficult to escape the conclusion that spending over a decade to recover a sum…