So here we are find ourselves on the cusp of another year, the old orb having proved again it can reliably revolve 365 consecutive times without a wobble. INO wishes its readers a Merry Christmas and a Happy New Year and may you all return refreshed and fighting fit in 2019. What follows is our somewhat hurried summary of the year that was. February From…
Jirsch Sutherland partner Amanda Young has been sacked after allegedly stealing almost $240,000 from the accounts of insolvent companies she controlled as liquidator. In a statement to Insolvency News Online (INO) late yesterday Jirsch Sutherland managing partner Bradd Morelli said that following undertakings Young provided to the NSW Supreme Court: “Amanda Young’s employment at Jirsch Sutherland has since been summarily terminated.” She had also lodged with…
SV Partners’ Darren Vardy and Jason Porter have been stung by an adverse judgement that could require them to find at least $200,000 without recourse to the assets of SPC & Co Pty Ltd, the company to which they were appointed liquidators via CVL in August 2017. Much of the detail in this protracted fight for fees by barrister Ventry Gray can be gleaned from the judgment…
Jirsch Sutherland partner Amanda Young has been suspended as authorities investigate an alleged fraud. In a statement to Insolvency News Online yesterday Jirsch Sutherland managing partner Bradd Morelli confirmed an employee had been stood down and an external investigation was underway. “Jirsch Sutherland has identified a case of possible fraud by an individual employee and has taken immediate action to investigate and report the matter,” Morelli said….
Gigalitres of litigation have passed beneath the bridge since the directors of the troubled Walton Constructions Group were referred to the National Australia Bank’s (NAB) preferred troupe of external restructurers back in 2013. In awarding the liquidators of Walton Construction (Qld) Pty Ltd a tidy sum and unwinding one of the most controversial of the various transactions that characterised the Mawson Group’s byzantine plan yesterday, Federal Court judge Roger Derrington has…
Cor Cordis partners Ozem Kassem and Jason Tang have had the fees they generated as administrators of Attack Engineering Pty Ltd lopped following objections by Steve Nicols, who replaced them when the company was wound up. Kassem and Tang were appointed administrators of the Coffs Harbour-based firm on August 29, 2017 after receiving a referral from Shine Lawyers’ James Hulbert. That appointment followed winding up proceedings initiated by the Australian…
Now that a bid for permanent stay has been dismissed and the appointment of a suitable expert to determine the date of insolvency or otherwise is imminent, INO thought it appropriate to revisit the Starcom saga. Readers may recall that we first delved into this ageing administration in June this year in Lost Records An Obstacle For Pitchers’ Partner. That was when Starcom’s chief executive officer (CEO) Jega Muttucumaru…
Attributing guilt by association is an avoidable injustice (unless justified) which is why INO declares at first instance that not one of the five liquidators named this week in the Federal Court are alleged to have done anything wrong. The five – Richard Rohrt, Glenn Crisp, Malcolm Howell, Travis Pullen and Andrew Poulter – were identified during the course of the public examination of Melbourne man Phil…
Barry Taylor’s plans to lure a Queensland-based registered liquidator into the HLB Man Judd fold have again been foiled after John Shanahan of Gervase Consulting decided not to proceed with a joint venture the two parties have apparently been mulling over for some time. Sources said the parties had been close to a deal but that Shanahan decided the fit wasn’t quite right and he was…
Word is that De Jonge Read director Ashley Shield may have spent some time in the witness box this week during examinations into the affairs of Trigger Holdings Pty Ltd. Details are sketchy with the courts refusing to release details and Trigger’s liquidators clamming up when INO called seeking specifics. What we do know is that a director and a former director of the company were…