Preferences

Plethora of Preferences ruling to cut court costs

McGrathNicol partner Kathy Sozou. After replacing David Ross on the liquidation of SSG NSW Pty Ltd in March last year, the McGrathNicol trio of Kathy Sozou, Anthony Connelly and Jamie Harris uncovered a plethora of preferences. But as they recently discovered, that doesn’t have to mean commencing a plethora of proceedings. “At the very least, it is unsatisfactory that costs continue to be expended in…

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Court delivers early Christmas with resounding “No”

Morton + Lee Insolvency’s Gavin Morton. “No”. With that one word Australia’s collective population of registered liquidators and insolvency specialists let out a resounding cheer, because it meant that the Full Bench of the Federal Court had decided not to ruin their Christmas. “The creditor claims to be entitled to set off its obligation under s 588FF of the Act to repay the preference received…