Liquidations

Indemnity costs awarded against retentive liquidator

Pitt Street liquidator Jamieson Louttit has avoided the full wrath of an adverse order – kind of – after a judge ruled that indemnity costs should not be applied to two days spent hearing an application launched in April against Louttit by the king of encaffeination, Les Schirato. In a judgment handed down last week NSW Supreme Court judge Ashley Black signalled that Schirato – in his capacity as director…

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Court backs hourly-based claim, slams ILRA transition

When the planets align, the wind blows fair and the detail is both accurate and abundant, the dispensers of justice are happy to approve liquidator remuneration claims on the basis of hourly rates without recourse to the inherently fee-reductive principles of proportionality. In the latest instalment in the growing genre of judgments spawned by Sakr Nominees Pty Limited [2017] NSWSC 668 Ferrier Hodgson partner George Georges has…