Tiaro Coal creditors gunning for Goyal

The stream of fees that’s flowed from the Tiaro Coal liquidation these last few years could get could a little bloodied after some of the company’s major creditors opened a new front in their war with liquidator Rahul Goyal. The gregarious Goyal – one of KordaMentha’s top revenue generators – has been at odds with major Tiaro creditor the Hudson Investment Group pretty much from the commencement of his…

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Bankruptcy

Regulators continue jihad on practitioner compliance

COMMENT Presenting oneself as a fierce and tireless scrutiniser of insolvency practitioners is all the rage among the relevant regulators at the moment. The view among much of the bureaucracy seems to be that these highly qualified professionals cannot be trusted and only heavy regulatory shackles will prevent them from abusing their position to the detriment of all. It’s nonsense of course but regulation is…

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Litigation

Neolido fraud: Leigh paid $100k to secured creditor

Court documents obtained by Sydney Insolvency News reveal that ex-PPB Advisory (PPBA) partner David Leigh paid $100,000 to a secured creditor out of a total $800,000 PPBA alleges he fraudulently misappropriated from the liquidation account of Neolido Holdings. According to an application for freezing orders filed by lawyers for PPBA last week, Leigh was questioned about the missing monies on Tuesday February 22 by PPBA Queensland…

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