In the matter of Imagebuild Group Pty Ltd

Imagebuild Group Pty Ltd was in external administration, and the liquidator applied to the Court for the approval of the remuneration claimed and for approval to enter into a liquidation funding agreement. The Australian Taxation Office opposed the application, arguing that the remuneration claimed was excessive and unreasonable. The liquidator argued that the remuneration was justified due to increased and unanticipated levels of investigations into voidable transaction claims and plant and equipment, among other factors.

The Court was required to determine whether the remuneration claimed by the liquidator was reasonable and justified, and whether the liquidator should be approved to enter into a liquidation funding agreement. The Court considered the Remuneration Report, which contained a breakdown of the remuneration claimed based on six task areas: assets; creditors; employees; investigation; dividend; and administration. The Court also considered the correspondence between the liquidator and the ATO, in which the ATO expressed its concerns about the reasonableness of the remuneration claimed.

The Court found that the remuneration claimed by the liquidator was reasonable and justified, despite the ATO's opposition. The Court found that the liquidator had provided detailed reasons for the increased costs incurred, and that there was no evidence to suggest that the liquidator had acted improperly or unreasonably. The Court also found that there was some prospect that the liquidation funding agreement may benefit creditors, and that there was no detriment in pursuing that prospect. Accordingly, the Court approved the remuneration claimed by the liquidator and granted approval for the liquidator to enter into a liquidation funding agreement.

The Court ordered that the liquidator's remuneration be approved in the amount of $240,000, and that the liquidator be granted approval to enter into a liquidation funding agreement. The Court also ordered that the liquidator provide regular updates to the Court and the ATO regarding the progress of the liquidation and the use of any funds obtained through the liquidation funding agreement.