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Conduct, Costs, Creditors, Directors, Judgment, Liquidators, Litigation, Litigation Funding 25 May 2022

Alleged asset recovery failure plagues ex-appointee

Sydney liquidator Greg Parker has suffered another blow in his ongoing stoush with the former directors of Worldwide Specialty Property Services (WSPS) as he defends allegations of negligence and claims for damages. As explained in Lee v Parker (No 2) [2022] FCA 582 Parker last week lost his bid to force the ex-directors to stump up more than $500,000 in security for costs. The Clarence…

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Liquidations, Liquidators, Litigation, SPL 25 March 2022

Aspiring SPL likely to meet resistance from secureds

Hall Chadwick partner Sule Arnautovic. WLP Restructuring’s Glenn Livingstone. Another wholly uncelestial body is being positioned to take up orbit around the Jabiru Satellite and Newsat administrations with proceedings commenced in the NSW Supreme Court this month to appoint Hall Chadwick partner Sule Arnautovic as special purpose liquidator (SPL). On Monday the applicant’s counsel David Sulan SC told Justice Ashley Black that Jabiru and NewSat…