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Judge sends HIH Insurance legal fee fight back to the drawing board
Restructuring & Insolvency 2019-11-07 10:22 pm By Miklos Bolza

A NSW Supreme Court judge has raised concerns about a dispute over fees owed to two law firms and a funder in relation to four shareholder actions brought against the liquidators of HIH Insurance.

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Judge shoots down objections to Mossgreen liquidators’ payday
Restructuring & Insolvency 2019-11-06 5:34 pm By Christine Caulfield

The administrators and liquidators of failed auction house Mossgreen have had their $646,000 in fees approved over the objections of creditors, with a judge saying they were entitled to the remuneration after recovering more than $2 million in assets.

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IOOF unit wins stay of $76M judgment as it mulls appeal of case against Sparke Helmore
Restructuring & Insolvency 2019-10-22 11:00 pm By Cat Fredenburgh

A judge has briefly stayed his $76.6 million judgment against IOOF subsidiary Australian Executor Trustees over the sale of a timber plantation by the collapsed Gunns Group as AET weighs an appeal of the ruling, which dismissed its cross-claim against law firm Sparke Helmore.

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Legal fee fight looms in HIH Insurance shareholder actions
Restructuring & Insolvency 2019-10-21 9:58 pm By Miklos Bolza

Lawyers behind four quasi representative proceedings against the liquidators of collapsed HIH Insurance have launched a bid to recoup the costs of their successful 18-year-long legal battle.

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Judge tosses Babcock & Brown cases, finds ‘serious problems’ with market-based causation
Securities 2019-10-21 8:47 pm By Miklos Bolza

A judge has dismissed three proceedings by shareholders against the liquidator of failed global financial services firm Babcock & Brown, in a finding that highlights “serious problems” with market-based causation and may have ramifications for securities class actions.

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Ashurst partner slams ruling from ‘confused’ judge in dispute with ex-judge neighbour
Restructuring & Insolvency 2019-10-18 9:03 pm By Miklos Bolza

A partner at Big Six firm Ashurst has challenged a NSW Supreme Court decision appointing liquidators to his Point Piper home in a protracted dispute with an ex-judge neighbour, saying the judge was confused and made an order which was an “affront to our system of adversarial justice”.

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Courtside with the swift ‘Hammer’ of justice
People In The News 2019-10-18 2:06 pm By Amelia Birnie

Justice David Hammerschlag of the NSW Supreme Court has a way with words that readily lends itself to dramatic courtroom headlines. The “Hammer,” as he is known, also pulls no punches and is quick with one liners that keep counsel on their toes. Here, Lawyerly looks at some of the recent best moments inside courtroom 7D.

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Insolvency practitioners’ fees to face scrutiny in latest government inquiry
Restructuring & Insolvency 2019-10-10 9:44 pm By Cat Fredenburgh

A new government inquiry will look at the fees and practices of insolvency professionals and whether the current insolvency system is set up to help struggling businesses turn around.

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UDP wins $25M from insurers over doomed 5 Star Foods deal
Corporate 2019-10-10 5:27 pm By Miklos Bolza

Hong Kong-based UDP was entitled to $25 million from its insurers after losing more than $30 million from its disastrous acquisition of dairy conglomerate 5 Star Foods, which had been secretly overcharging one of its biggest customers, food giant Lion Nathan Group.

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Examination proceedings brought against Linchpin Capital directors
Restructuring & Insolvency 2019-10-09 4:06 pm By Miklos Bolza

Three former directors of billion-dollar financial advisory firm Linchpin Capital Group will face two days of questioning in examination proceedings filed on behalf of an investor five months after the company was wound up for running an unregistered investment scheme and misleading investors.

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