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COURT SCRAPS GUTNICK'S DEAL TO SELL $174 MILLION MINE TO SISTER FOR $1. Former bankrupt mining tycoon Joseph Gutnick has suffered another setback in his turbulent career after a court tore up a deal to spirit away a mining project worth as much as $174 million from creditors to one of his companies by selling it to his sister for $1. Liquidators to Legend International chalked up a major win for the mining exploration group against its once mining magnate director Mr The corporate regulator is also believed to be reviewing the matter, and it could lead to regulatory action against the former Melbourne Late last week, As*ociate Justice Rodney Randall found the sale of Legend International's ownership in a potentially lucrative mining project in North Queensland to a company operated by Mr Gutnick's Sydney-based sister Pnina Feldman and nephew Shalom Feldman Mrs Feldman, the wife of Bondi's Yeshiva Centre leader Rabbi Pinchus Feldman, famously took her brother to court in 2003 over a separate The recent court case brought by liquidators to Legend was part of a wider complex dispute between Mr Gutnick, Legend and the multi-billion dollar company that signed a deal with Legend, the Indian Fa*mers Fertiliser Cooperative (IFFCO). The legal battle sparked Mr Gutnick's shock bankruptcy in June 2016 and led to Mark Korda and Craig Shepherd from KordaMentha acting as Mr Gutnick was discharged from his bankruptcy in June this year after striking a sweetheart deal with his trustees in bankruptcy to clear his $175 million in debt for less than one cent in the dollar. Mr Gutnick and Legend's dispute with IFFCO links back 2008 when Legend inked a $103 million contract with IFFCO to supply phosphate to Under the deal, IFFCO was to invest the $103 million over two years through shares and options in Legend International Holdings. However, the deal fell apart when Legend failed to deliver any phosphate, a key ingredient in fertiliser. In 2015, IFFCO later sought to recoup its investments by suing Legend and Mr Gutnick in Singapore and later in Australia.