Casting vote challenged after creditors reject 100c/$

Hall Chadwick’s Steve Gladman. Steve Gladman’s decision to use his casting vote to defeat a resolution to replace him has been challenged in the courts. On Monday the NSW Supreme Court heard that at the second meeting of creditors of Glenfyne Farms International AU Pty Ltd (GFIAU), voting on a resolution to replace Gladman with SV Partners’ Jason Porter and Fabian Micheletto was deadlocked after a poll….

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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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