A bid by Deloitte pair David Lombe and Robert Woods to transfer their stoush with solar cell installer Massive Solar (MS) from Sydney to Melbourne has failed after a judge concluded that “the interests of justice require that the proceedings continue in this Court.” Lombe and Woods were appointed liquidator to Inverter Solar (IS) by order of the Supreme Court of Victoria on July 13, 2016….
He might be banned from managing corporations and bankrupt to boot but Nathan Tinkler can still rely on his mate Gerry Harvey to agree to a round of golf, thanks in part perhaps to the efforts of Deloitte restructuring guru Neil Cussen. Cussen revealed yesterday that he and colleague David Mansfield had sold the last property holdings attaching to Tinkler’s former horse breeding and agistment business Patinack…
Who reads those ASIC Regulatory Guides about registration renewal anyhow, apart perhaps from ARITA’s technical gurus, sundry boffins of a regulatory bent and your yarn-starved correspondent? Certainly not every single registered liquidator and among them definitely not Worrells’ Nick Cooper and Nathan Deppeler, who on the last day of the financial year received a phone call from the Australian Securities and Investments Commission (ASIC) advising that…
A spat over an appointment has been laid bare in convenient detail after the Deputy Commissioner of Taxation (DCoT) applied to the Federal Court to have ex-Vincents partner Peter Dinoris appointed liquidator of W.D. Hall Pty Ltd in place of incumbent voluntary administrator (VA), Paul Nogueira of Worrells. Freshly minted Federal Court judge Roger Derrington explained in Deputy Commissioner of Taxation, in the matter of W.D. Hall Pty Ltd v…
Mackay Goodwin principal Domenic Calabretta may be overseas but that is not impeding the progress of some potential grief around an alleged lack of independence working its way towards him via a hearing in the NSW Supreme Court later this year. The grief is in the form of untested allegations – which may or may not be frivolous and/or vexatious – that the fees charged…
With compliance assuming an elephantine prominence in the day-to-day existence of the insolvency practitioner, it’s no surprise that the smaller, less-resourced operators have found it difficult to cope without updated precedents. The number of hours in a day is after all, frustratingly inelastic. Those frustrations have been intensified by the perception – commonly expressed to SiN by the more diminutive practices – that the Australian…
A trio of entrepreneurs is preparing to shake up the established model of distressed asset sales by launching Resolve, an online platform designed to effect transactions between insolvency practitioners and distressed asset investors on a secure digital exchange. The three Melbournians – Edward Scott, and brothers Simon and Andrew Plummer – see an opportunity to recreate the existing process by which practitioners with assets to sell…
Henry Kazar received a less than ideal send off to the financial year thanks to Justice John Griffiths, who on June 30 decided that the EY partner’s claim for $64,390.50 was coming it a trifle high given Kazar and his team laboured for years to engineer a land sale that raised all of fifty grand. Kazar applied to the Federal Court in April of this year to have…
If avoiding an acrimonious trial involving serious allegations of impropriety can be categorised as a good result then PPB Advisory’s Ian Carson and Craig Crosby have engineered such after the Supreme Court of Victoria endorsed a deed of settlement between the pair as Willmott Forests‘ liquidators and the company’s responsible entity, Primary Securities. In the recent judgment of Justice James Judd in Primary Securities Ltd v Willmott Forests…