Last Friday, Justice Brereton finally published his reasons in Sakr Nominees Pty Ltd  NSWSC 709, the latest in a series of controversial decisions on insolvency practitioner remuneration. Continue reading
A liquidator does not always need to provide security for costs when bringing actions in the name of an insolvent company. Continue reading
In a well known 2009 decision, Hall v Poolman  NSWCA 64, a liquidator was criticised for pursuing a claim in circumstances where the entire sum recovered would be paid to the liquidator and his funder, leaving creditors without a return.
This criticism did not go unnoticed Continue reading
I’ve always wanted a motorbike, but my wife won’t let me have one.
I once asked a Harley-owning friend of mine how, during his spectacular lycra-clad roller-blading pony-tailed Harley-riding midlife crisis, he managed to get his wife to agree to his Harley. His response was to inform me that he just went out and bought it, adding – after a thoughtful pause – It’s easier to ask for forgiveness than permission. Continue reading
A recent decision of the Supreme Court of New South Wales has potentially altered the “default position” that, when a company under administration is wound up by the court, the court will appoint the liquidator nominated by the petitioning creditor, rather than the incumbent administrator. Continue reading