On 8 January 2010 Morgan Kelly and John Melluish of this office were appointed as Receivers and Managers of Luxe Studios Pty Limited (“the Company”) and 279-283 Liverpool Street, East Sydney (“the Property”) pursuant to the provisions contained in a registered debenture charge created by the Company in favour of the National Australia Bank Limited ("the Bank").

Settlement on the Property was completed on 29 July 2010 and net proceeds of the sale were distributed to the Bank as secured creditor over the Property. The Bank suffered a shortfall on this sale and accordingly, there were no funds available for distribution to unsecured creditors.

The Receivership has now been finalised, and the Receivers & Managers retired from the Company on 12 October 2010.

Control of the Company has reverted to the court-appointed Receivers & Managers, being David Hurst and Andrew Wily of Armstrong Wily.