Worrells partner allegedly facilitated phoenix

Worrells partner Jason Bettles. Worrells partner Jason Bettles is facing a judicial inquiry amid allegations he facilitated an illegal phoenix scheme concocted by the controllers of the failed Members Alliance Group (MA Group). In court documents obtained by Insolvency News Online (iNO) the Australian Securities & Investments Commission (ASIC) alleges Bettles attended meetings in July 2016 with MA Group’s controllers and its advisors where the…

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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

Leigh to defend PPBA/Neolido fraud claim

David Leigh, the former PPB Advisory (PPBA) partner who stunned the profession after it emerged he had allegedly pinched $800,000 to pay debts, is set to stun again. In the Supreme Court of Queensland yesterday, Leigh filed a notice of intention to defend a claim for recovery of the funds, launched on February 28, 2018 by PPBA. From what can be gleaned from the document…

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