Liquidations

McGrathNicol gets its way on 3rd Forum appointee

McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Federal Court judge Michael Lee might have refused Westpac’s bid to have a third McGrathNicol partner appointed as a provisional liquidator to three Forum corporate entities on the basis that with charge out rates of $847 per hour two is sufficient, but as we all know, resistance is futile. When creditors of the 25 or so Forum group companies…

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$45k per month to store HIH records

McGrathNicol’s Jason Preston. McGrathNicol’s Kathy Sozou. McGrathNicol’s Jason Preston is drawing excruciatingly close to concluding the two decades long winding up of the HIH insurance group and as has emerged this week, the end can’t come soon enough with hefty administration costs termiting what funds remain. “We have obtained orders to allow the destruction of the records 90 days after deregistration of the head company…