Bell Group Asset Recovery Litigation

Asset recovery litigation and appeals arising from the collapse of the Bell Group of companies against 20 global banks leading to the settlement of AU$1.7 billion in favour of liquidators, creditors and bondholders.

Representing Australian liquidator of Bell Group NV, a Netherlands Antilles incorporated company within the Bell Group (an offshoot of Bond Corporation), which collapsed with a deficit of more than AU$1 billion.

Lipman Karas led the appeal by Bell Group NV in the Western Australia Court of Appeal, increasing the compensation payable to the Bell Group from AU$1.7 billion to AU$2.8 billion.

Subsequent High Court of Australia proceedings were discontinued following a multi-party mediation to settle the claims against the banks. Litigation involving distributions entitlements of shareholders continues.

Australia

Lipman Karas Pty Ltd
Level 23
25 Grenfell Street
Adelaide 5000
Australia
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Telephone: +61 8 8239 4600

Hong Kong

Lipman Karas
Level 23
Three Pacific Place
1 Queen's Road East
Hong Kong
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Telephone: +852 3761 3900

London

Lipman Karas LLP
Holborn Gate
26 Southampton Buildings
London WC2A 1AN
United Kingdom
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Telephone: +44 20 7400 2180
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