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Michael Murray’s on-going commentary on issues in corporate and personal insolvency law and related policy and law reform, in Australia and internationally. Given the scope of insolvency, this extends to business, consumer and professional conduct, and ethics, governance and regulation, criminal, tax, environmental and administrative law, and the courts and government.

 

Appeal decision in Sakr Nominees – remuneration of liquidators

A test case decision in Sakr Nominees from the NSW Court of Appeal will be given tomorrow 9 March at 10.15am EST.

In my commentary on 12 January 2017, I said that the decision of Justice Black in PrimeSpace Property [2016] NSWSC 1821 (15 December 2016) might be seen as a worthy draft of the Court of Appeal decision in Sakr Nominees, heard only a week or so earlier.

In PrimeSpace, Justice Black examines the various approaches taken to remuneration in the different cases, including the decision of Brereton J in Sakr, in coming to a determination of administrators’ remuneration.  He rejected the discount offered by the administrators and approved the remuneration in full.  Issues of risk came down in favour of the administrators.

 

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