Cattle breeder initiates civil action against receivers in NSW Supreme Court

Cattle breeder initiates civil action against receivers in NSW Supreme Court

News
Aa

Civil proceedings originated in the NSW Supreme Court.

Aa
Corey Ireland of Ireland's Angus at Kyeamba in southern NSW.

Corey Ireland of Ireland's Angus at Kyeamba in southern NSW.

RIVERINA cattle breeder Corey Ireland has initiated civil proceedings in the NSW Supreme Court against the receivers acting on behalf of Westpac, which is seeking to recover $3.5 million.

Westpac appointed KPMG to act as receivers late last year, after the business entity called CD and PJ Ireland was liquidated on November 14 following the successful petitioning in the NSW Supreme Court by creditor, East Coast Stockfeeds.

The turn of events, which now sees Mr Ireland taking action against the receivers, was mentioned during NSW Supreme Court proceedings on Thursday in the civil matter of Westpac vs IFTT Pty Ltd, Ireland's Family Trust.

The ongoing Supreme Court matter of Westpac vs IFTT Pty Ltd aims to establish ownership and inventory of cattle.

IFTT Pty Ltd was established on November 15 2019, a day after the initial liquidation of CD and PJ Ireland.

According to a preliminary document viewed by The Rural and prepared by RSM Australia Partners, regarding the liquidation of CD & PJ Ireland, it was stated that Westpac Bank had monetary interests of $3.5 million.

Westpac appointed KPMG as liquidators. According to the report the bank had an interest in 1654 stud and commercial cattle, branded IA, located at "Ivydell", Kyeamba.

The originating process was filed with the NSW Supreme Court on August 6 and the plaintiff is Corey Ireland, with defendants listed as Morgan John Kelly, and Will Colwell, who both work for KPMG.

The matter is listed in the Supreme Court for August 17.

The Rural contacted Mr Ireland and his solicitor Jacob Carswell-Doherty, of Foulsham & Geddes, Sydney for comment. Comment was also sought from Mr Kelly and Mr Colwell.

  • See more agricultural news, weather updates, livestock reports and photo galleries at www.therural.com.au and visit the Facebook and Twitter pages to follow the masthead on social media.
Aa

From the front page

Sponsored by