The corporate watchdog has dramatically intervened in the collapse of the Ten Network, as lawyers for Lachlan Murdoch, James Packer and Bruce Gordon trade barbs over whether Ten administrators Korda Mentha are conflicted.
On Monday, the insolvency firm successfully asked the Federal Court to push back a critical second creditors meeting where Ten’s future will be decided in an effort to maximise potential bidders.
The Australian Securities and Investments Commission told the court on Monday that Korda Mentha was appointed to provide advice to the board back in February ahead of their appointment on June 14, which gave rise to “an apprehension of bias or impartiality”.
“They were appointed before the administration … and planned for an…
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