Insolvency firm Cor Cordis has been appointed administrator of former contract brewer Icon Brewing, which is still locked in legal disputes with its former packaging partner.
The appointment follows a meeting between Cor Cordis and Icon Brewing founders Hanna ‘John’ Melhem and Chris Lee on May 11, the insolvency firm has informed creditors.
Melhem has agreed to provide a $50,000 payment to Cor Cordis for its liabilities, remuneration and expenses.
“We estimate our remuneration for undertaking the administration will be $150,000 plus GST,” Cor Cordis says.
A first meeting of creditors, which include former employees and brewing ingredients suppliers, will be held on Wednesday May 30.
Icon and its former packaging partner Boka are still awaiting a decision from the Supreme Court of NSW on their contractual dispute, heard in November 2017.
Judgment was reserved on the matter, which is listed for a directions hearing on June 22.