Receivership

FEG, McGrathNicol settle over Hastie claim

After all the defiance and all the warnings McGrathNicol and the FEG Recovery Unit have turned demure as mice and settled their differences in a confidential arrangement that allows for no comment. Such was the outcome this week in the Federal Court when Justice Brigitte Markovic made orders by consent in Commonwealth of Australia represented by the Department of Employment V Peter McKenzie Anderson & Ors….

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Judge criticises lit. funders’ “above normal returns”

The Federal Court’s Justice Steven Rares has utilised a receiver’s claim for remuneration to opine less than favourably about the “above normal returns” attracting increasing numbers of hopefuls into the colosseum that is Australia’s litigation funding space. In Australian Executor Trustee Ltd v Provident Capital Ltd [2018] FCA 439 Justice Rares quoted University of New South Wales Professor of Law Michael Legg, who in a recent article determined that…