Real estate firm The Agency has ended a brief stint in administrationafter successfully fighting off a claim made by a former director.
Director of investment group Magnolia, Mitchell Atkins, a former director at The Agency, appointed voluntary administrators BDOon January 19to pursue the real estate firm over a disputed fee of about $385,000, which he alleged The Agency had refused to pay.
Magnolia also said it had lost confidence in The Agency Groups board and its unknown financial position.
However, no creditors came forward in the federal court on Monday, and theadministration ended later that day, according to an ASX statement released by The Agency.
It comes as the Australian Government Takeovers Panel ruled an earliertakeover b…
Read the full article at: https://www.domain.com.au/news/real-estate-firm-the-agency-wins-court-ruling-against-administration-action-over-disputed-fee-1022418/