Litigation

Diploma funding deal attracts judicial spray

Grant Thornton partner David Hodgson. At some point an academic or authority will crunch the numbers and prove that litigation funding either benefits creditors or it does not but for present purposes a recent decision of the Supreme Court of Western Australia might provide confirmed cynics with all the proof they already know they don’t need. ” … the effect of the funding agreement is…


Administrator ditched in shareholder dispute

de Jonge Read’s Hank de Jonge. David Ross of I&R Advisory. Shareholders in dispute, oppression suits, an administrator ousted, DoCAs of doubtful provenance, even a phoenix sighting – dull moments are rare birds in the Corporations List of the NSW Supreme Court. This week the aforementioned elements swept monotony aside when representatives of the warring parties appeared in the matter of Mobius Distilling Company Pty…


Coal-fired conundrums continue for Callide GPLs

Deloitte partner Richard Hughes. Deloitte partner Grant Sparks. While the parties warring over the 2021 turbine failure at the Callide C Power Station cross swords over subpoenas and whether legal privilege attaches to a much anticipated report into the incident, the general purpose liquidators (GPLs) involved are struggling to get paid. According to documents lodged with ASIC Deloitte partners Richard Hughes and Grant Sparks, in…


Owners Corp out to make VAs rue casting vote

No doubt Andrew Spring and Peter Moore expected challenges when they accepted appointments last year as voluntary administrators (VAs) of embattled builder Academy Construction & Development Pty Ltd (AC&D). “At this stage we have no reason to doubt the account provided by the Director”. Jirsch Sutherland’s Andrew Spring and Peter Moore. At the time the referrer came calling in July 2023 AC&D had been defending…


Investigating appointors on the cheap

David Ross of I&R Advisory. I&R Advisory’s David Ingram. Investigating whether their appointors were themselves validly appointed has created quite the conundrum for David Ingram and David Ross, Hall Chadwick alumni who struck out to launch I&R Advisory in December 2021. In the Federal Court on Monday judge Yaseen Shariff was told that in their capacities as liquidators of MCA Tag No.1 Pty Ltd (MCA)…


FEG prevails in circulating asset stoush

Jirsch Sutherland’s Malcolm Howell. RRI Advisory’s Liam Bellamy. iNO readers enamoured of circulating asset blow ups will find much in the latest decision of Federal Court judge Shaun McElwaine into which to sink their fangs. “As is usual, the defendants secured a deed of indemnity for their appointment from 1st Cash. However, the appointor denies the obligation to indemnify the defendants in respect of this claim….


KordaMentha duo to pay costs in failed dismissal bid

KordaMentha’s Richard Tucker. KordaMentha Brisbane partner Rob Hutson. A bid to prevent a creditor salmoning its way up the waterfall has backfired on a pair of former receivers after a court refused their application and ordered them to pay the costs the creditor incurred in opposing them. “I am unable to accept the submission of ADZ and the Receivers that, unless DGR has paid the…


Hall Chadwick alumni at loggerheads over MVL

I&R Advisory’s David Ingram. HH Consulting’s Hakki Hassan. Collegiate bonds are in short supply among certain former Hall Chadwick personnel at the moment, with a spat exploding in the Federal Court this month over control of an MVL. On May 14, Hakki Hassan, a former senior manager at the colourful mid-tier filed an originating process which seeks among things the replacement of ex-Hall Chadwick partners…


ATO told to stop riding on Revenue NSW’s coat tails

Jones Partners principal Bruce Gleeson. Jones Partners Daniel Soire. A legal stoush over a deed of company arrangement (DoCA) approved in defiance of the administrators’ recommendation kicked off yesterday with a judge telling the ATO it would need to do more than rely on the plaintiff’s case if it wants to replace the current deed administrators with a liquidator more to its liking. In hearing…


NSW Revenue moves to topple Jones Partners pair

Jones Partners principal Bruce Gleeson. Jones Partners Daniel Soire. Jones Partners duo Bruce Gleeson and Daniel Soire face being dumped as administrators of Dalma Form Specialist Pty Ltd (DFS) after Revenue NSW commenced proceedings in the wake of a controversial second meeting of DFS creditors on April 12. In a circular to DFS creditors issued yesterday, Gleeson and Soire attached an originating process filed in…