KordaMentha duo face inquiry bid over Seafolly

KordaMentha’s Scott Langdon. KordaMentha’s Rahul Goyal. KordaMentha’s Rahul Goyal and Scott Langdon may be forced to defend elements of their handling of the Seafolly administration and possibly delay paying a first dividend after five Chinese corporate creditors of the COVID-crippled swimwear outfit yesterday applied for an injunction in the NSW Supreme Court. Lawyers representing the Seafolly Five appeared before Justice Ashley Black ex-parte seeking to…

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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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KPMG partner’s insistence “disappointing”: QNI Judge

KPMG’s Peter Gothard. Whilst the real pain of Wednesday’s judgment in Parbery & Ors v QNI Metals Pty Ltd & Ors [2020] QSC 143 will be felt by QNI’s general purpose liquidators (GPL) FTI Holdings, Queensland Supreme Court judge Debra Mullins didn’t pull any punches when it came to a couple of elements of the testimony of KPMG partner Peter Gothard. Gothard had been brought…

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