Bans & fraud

The Federal Court has removed Liam Bailey of Sydney firm O'Brien Palmer as liquidator of Hellyer Metals Pty Ltd, former owner of the Hellyer mine in western Tasmania, and replaced him with Hobart liquidator Adam Johnston. Justice Shaun McElwaine found Mr Bailey had not properly investigated the transfer of the mine's operating companies.

Why it matters: Creditors of Hellyer Metals, among them Goshawk Mining with its A$36.4 million claim, now have a court-appointed liquidator in place of one removed over doubts about his impartiality. Whether the mine assets can be recovered is still open.

• The Examiner
• Federal Court of Australia
• All 2 sources

Liquidators of Mundella Foods Pty Ltd, the collapsed Western Australian dairy processor, and the Margaret River Dairy Company have told ASIC they found A$778,000 of possibly unreasonable director-related transactions. Creditors are owed A$12.5 million and the liquidators do not expect to pay a dividend.

Why it matters: Former workers owed almost A$940,000 and unsecured creditors owed A$8.5 million have been told to expect no dividend. Any claim against the former director or over the asset sale goes ahead only if creditors fund it.

• ABC News