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McGrathNicol > administrations > lift capital partners pty limited > creditor information


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McGrathNicol Corporate Recovery is a market leader with extensive experience in providing voluntary administrations and deeds of company arrangement, receiverships, creditors voluntary liquidations, members voluntary liquidations and court liquidations.

Update on NSW Proceedings - Court Declarations

 

The proceedings in the NSW Supreme Court concerning the application for declarations/directions made by the administrators were heard by Justice Barrett between 11 and 13 November 2008.

 

At the beginning of the hearing, Merrill Lynch made an application to be dismissed from the proceedings on the basis of an undertaking to the court to abide by the outcome. Justice Barrett granted that application.

 

At the conclusion of the hearing, Justice Barrett reserved judgment, noting that this case is "excruciatingly difficult" and explained that it is unlikely he will deliver an early judgment. 

 

It is anticipated that judgment will be handed down in late January/February 2009 and creditors will be kept informed.