Are costs “approaching $20,000” high in resolving a bankruptcy filing oversight?

Michael Murray of Murrays Legal reports that the Federal Court of Australia recently used its powers under the Insolvency Practice Schedule (Bankruptcy) to correct a filing oversight that had inadvertently installed the Official Trustee after a consent to act was not lodged with the Official Receiver as required by the Bankruptcy Act 1966 (Cth), while limiting the creditor’s recoverable costs to $5,000 despite submissions that rectifying the error had already approached $20,000.

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