Original article by Patrick Durkin
The Australian Financial Review – Page: 16 : 19-Jul-17

The Federal Court has appointed insolvency firm Ferrier Hodgson to conduct an independent review of the fees paid by Ten Network to KordaMentha in the months prior to the TV broadcaster’s collapse. The move follows concerns that KordaMentha may have a conflict of interests in its role as administrator of Ten, given that co-founder Mark Korda had been acting as an adviser to Ten’s board since late February.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, FERRIER HODGSON AND COMPANY, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, GILBERT AND TOBIN LAWYERS, ARNOLD BLOCH LEIBLER, WIN CORPORATION PTY LTD

Original article by Ben Butler
The Australian – Page: 19 : 18-Jul-17

The independence of KordaMentha as administrator of the Ten Network has come under scrutiny by the Australian Securities & Investments Commission and the Australian Restructuring Insolvency & Turnaround Association. The issue centres on KordaMentha’s role as an adviser to Ten prior to its collapse. ASIC and KordaMentha have supported a proposal for Peter Gothard of Ferrier Hodgson to undertake an independent investigation into whether the fees received by KordaMentha constituted a preference payment.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN RESTRUCTURING INSOLVENCY AND TURNAROUND ASSOCIATION, FERRIER HODGSON AND COMPANY, FEDERAL COURT OF AUSTRALIA, GILBERT AND TOBIN LAWYERS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BIRKETU PTY LTD, ILLYRIA PTY LTD, ATANASKOVIC HARTNELL CORPORATE SERVICES PTY LTD