Litigation Funding

Cullen Group: FEG on collision course with creditors

Liquidator Michael Caspaney may soon head to court to have a funding agreement with FEG ratified after creditors of Queensland construction firm Cullen Group Australia rejected the deal on the basis it would bankroll pursuit of sub-contractors who had received more than $4 million in preference payments. Readers of Insolvency News Online may recall that Caspaney was installed at the first meeting of creditors back…

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Litigation funders reluctant while receivers rule

Availability of and access to litigation funders is one of the biggest challenges for liquidators and while funder numbers have swelled in recent years it doesn’t mean the dollars are easier to find. Liquidator Michael Hird has spent considerable time trying to attract a backer willing to underwrite examinations of some of the directors of the failed Allmine Group, a search outlined in convenient detail…