Law firm Arnold Bloch Leibler has had another win on behalf of Arrium administrators KordaMentha as it tries to wring every last cent out for creditors as the administration heads into its 10th month.
Coming off second best in the NSW Supreme Court was equipment leasing company Alleasing which has been forced to become just an unsecured creditor after a technical error in the paperwork early in the piece last year when it incorrectly registered the security interest over a $23 million ore crusher.
The administrative mistake meant the crusher was registered using OneSteel Manufacturing Pty Ltd's 11-digit ABN number, and not its ACN number which it was required to do under law.
Allleasing took the matter to the courts after being highly aggrieved that an administrative mistake had put the ownership of the mining equipment in doubt.
It comes as final bids for Arrium Australia are due by late February with better times in the steel sector meaning the east coast steel assets are sought after, but the Whyalla steelworks are still viewed by buyers as a millstone.
Bidders include Posco, Liberty House and SIMEC, Ashurst-advised Brookfield and a potential Chinese acquirer.
