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VA’s & DoCA’s

Administrators, Corporates, Creditors, Deed Administrators, Litigation, VA's & DoCA's 24 April 2024

Owners Corp seeks to terminate “cram down” DoCA

Is it a cram down or is it not? That’s the question a judge will have decide if proceedings currently afoot in the NSW Supreme Court are not soon resolved. And if the dispute goes to hearing the outcome could see two incumbent deed administrators (DAs) punted, a DoCA terminated and a mid-tier builder wound up. The matter came to iNO’s attention last week when…

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Administrators, Conflict, Corporates, Costs, Creditors, Directors, Independence, Judgment, Liquidators, Litigation, VA's & DoCA's, Voidable Transactions 15 November 2023

DoCA focus meant liquidation option ignored

David Levi. If you’re appointed administrator of a company subject to a creditor’s statutory demand and indicate a preparedness to have adjourned the winding up application on foot, it makes sense to turn up with your boxes ticked. Last Friday a court dealt with a practitioner who didn’t. “At the risk of stating the blindingly obvious if I assume I’m gong to win the lottery…