Hall Chadwick duo fall short for appointor Blackbird

Hall Chadwick duo Richard Albarran and Brent Kijurina have uncharacteristically folded on a summary judgment application they brought in the County Court of Victoria in their capacities as receivers of the collateral of Krypto Kid222 Pty Ltd as appointed by lender Blackbird Private Equity Pty Ltd.

The application was to be heard on September 15 but on the day judge Michael Wise KC identified deficiencies in the application.

For a start, no evidence of the instrument justifying Albarran and Kijurina’s appointment as receivers to the collateral – two motor cars – was before the court.

Nor was anything in evidence to satisfy the judge as to the validity of Albarran and Kijurina’s appointments.

His honour was also unwilling to proceed in circumstances where he had no material to help him determine the reasonableness or otherwise of the $121,620.71 in fees and disbursements Albarran and Kijurina were claiming, in circumstances where the loan amount was $138,000.

Question marks were also raised by the judge in respect of the material advanced to support Blackbird’s claim of a material adverse effect justifying Albarran and Kijurina’s appointments as investigating accountants in April 2024 and as receivers the following month as defined by the loan agreement.

Having relayed his concerns about the application’s inadequacies Albarran and Kijurina’s lawyer Christopher Yam of Parsons & Parsons Mortgage Lawyers sought an adjournment to October 7, presumably to deal with the issues the judge identified.

But yesterday his honour was informed by Lam that Albarran and Kijurina wanted to discontinue.

Orders to do so were made on the papers, leaving Blackbird with a shortfall of almost $120,000 on its secured money claim, most of which comprises Albarran and Kijurina’s fees and disbursements.