Jirsch Sutherland’s Malcolm Howell. RRI Advisory’s Liam Bellamy. It’s been some time coming – perhaps the elevation of Labor to federal eminence got in the way – but down under’s most intimidating creditor has resumed flexing its litagatorial muscle, in this case in respect of fees the now ex-receivers of Castel Electronics Pty Ltd paid themselves and the divvy they fed the secured. iNO first…
SV Partners’ Fabian Micheletto. SV Partners’ Michael Carrafa. It’s one thing to allege that creditors of a bankrupt knowingly participated in a fraudulent settlement to deny others a share of the assets. It’s another thing to allege that the participants’ lawyers were in on it. That however is where things stand as SV Partners’ Michael Carrafa and Fabian Micheletto pursue claims for damages and equitable…
Condon Associate’s Schon Condon. Appointees dealing with creditors asserting a statutory debt based on the Building and Construction Industry Security of Payment Act 1999 (NSW) (the SOP Act) can breath easier following the delivery of reasons this week In the matter of Nicolas Criniti Pty Ltd (in Liquidation) [2022] NSWSC 1149. In this case a builder commenced the process for the hearing of an adjudication…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Brent Kijurina. Is there a more reliable indictor of a souring relationship than the commencement of legal proceedings against an external administrator by a secured creditor? iNO certainly hopes so but for present purposes we’ll designate the commencement of proceedings as the epitome of acrimony, and in this case the objects of that acrimony appear to be Richard Albarran…
HLB Mann Judd managing partner James Henderson. Pearce & Heers’ Mark Pearce. North of the border Pearce & Heers partners Mark Pearce and Michael Dullaway have achieved a significant victory in their tug of war with HLB Mann Judd (SE QLD) over material relating to a business sale transaction HLB Brisbane managing partner James Henderson advised on in late 2018. “The liquidators submitted that there…
Mackay Goodwin’s Mitchell Ball. If the challenge outlined on Monday in the NSW Supreme Court proceeds, it may qualify as one of the most ill-advised attacks by a director on a liquidator’s fees mounted in many a year. That at least seemed be the opinion of presiding judge David Hammerschlag after hearing submissions on behalf of Mr Tracey Fellows, one of two directors and shareholders…
KPMG’s Peter Gothard. KPMG partner James Dampney. Hell hath no fury like a director who believes his business has been sold to a rival at undervalue, unless it’s the rage felt by the administrators who conducted the sale when they’re summonsed for examination and served with notices to produce. Before either gives such frustration vent in hell however comes the purgatory of costs and in…
Hall Chadwick partner Sule Arnautovic. What constitutes an unacceptable intrusion into a person’s affairs was laid out with clarity this week after a provisional liquidator (ProvLiq) applied for an order granting him access to a director’s passport. “Contrary to the plaintiff’s submission, access to the passport is a further significant intrusion into the defendant’s rights.” Federal Court judge Scott Goodman. On July 21 Federal Court…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. One thing to be said about Hall Chadwick duo Richard Albarran and Richard Lawrence is that they won’t die wondering. Despite indicators suggesting any attempt to recover their final fees and costs from the controversial Tauro Capital appointment should be categorised as heroic, the pair are pressing ahead. To this end a notice of intention to apply…
McGrathNicol’s Anthony Connelly. The stench of potential phoenix activity clings to the arrangements that frustrated Gavin Morton in his capacity as administrator of TSK QLD Pty Ltd to the point he was removed by creditors and as court records show, his replacements have had an equally frustrating time cutting through the miasma. As is revealed in Connelly, in the matter of TSK QLD Pty Ltd…