Amantiss Enterprises Limited and Wilbury Limited were placed into creditors’ voluntary liquidation in 1994. Following the appointment of a liquidator, proceedings were issued by the two companies, together with a third company, Framus Limited, against a multitude of defendants including CRH plc, Readymix plc and Kilsaran Concrete Products Limited, alleging breaches of competition law.

In two cases decided towards the end of 2012, the High Court applied reductions to the hourly charge out rate of staff members employed by the liquidator who had been promoted during the course of the liquidation.

Everyone loves a bargain – accordingly, there is a lot of interest when liquidators and other insolvency practitioners put a business up for sale. Purchasers jostle like shoppers in the Myer stocktake sale, trying to position themselves as the perfect purchaser. At the same time they try to convey their concern about the value of the business or assets – everyone expects a discount for a distressed business.

If Departmental activity, debate in Parliament and media articles are an indication, the Federal Government’s much awaited response to the Ripoll Report is imminent.