When a key client sues you in court, there’s a lot to lose regardless of the outcome.
Which is the situation McGrathNicol finds itself in. The insolvency company is being sued by the Department of Employment over its receivership of Hastie Services, one of several companies within the collapsed Hastie engineering group. The case, filed in October, resumes in court this month.
Under the Federal Entitlements Guarantee, the government pays the owed workplace entitlements of workers when companies go under with insufficient assets to meet their obligations. McGrathNicol’s receivership recovered $51.2 million in assets, which the government argues should have been enough to repay taxpayers for the $2.9 million they paid Hastie S…
Read the full article at: http://www.afr.com/brand/rear-window/mcgrathnicol-has-plenty-riding-on-hastie-case-20180313-h0xeqc
