ASIC dodges indemnity costs for ‘unreasonable’ rejection of settlement in case against liquidator

Restructuring & Insolvency 2023-11-23 9:21 pm By Sam Matthews Melbourne

ASIC has escaped an individual insolvency practitioner’s bid for indemnity costs in its failed case alleging illegal phoenix activity, with a judge finding the regulator did not unreasonably reject a settlement offer that would have netted it “a considerably better result” than it won at trial.