Judge baulks at funder’s 70% commission for case over NewSat collapse

Restructuring & Insolvency 2022-04-19 3:05 pm By Cindy Cameronne | Sydney

NewSat investor Rockgold Holdings has lost its bid to appoint a special purpose liquidator to run a lawsuit against eight major banks after a judge found its proposed 70 per cent funding fee “wholly disproportionate”.