Liquidator Anthony Warner could potentially face a hefty payout to former colleague and partner Steve Kugel following a judgment handed down this week by NSW Supreme Court Justice Guy Parker. In the 30,000 plus word judgment of Shazbot Pty Ltd v Warner Capital Pty Ltd [2018] NSWSC 1645 Justice Parker has painted an at times less than flattering picture of Warner in respect of the machinations he…
David John Leigh, former partner of PPB Advisory Queensland has, as foreshadowed by INO last month, pleaded guilty to three charges of fraud in the Brisbane Magistrate’s Court. In a statement yesterday, the Australian Securities and Investments Commission (ASIC) confirmed that Leigh, 56 of Sherwood in Queensland, had entered a plea of guilty and would be committed for sentencing on a date to be fixed….
David Mansfield and Neil Cussen would’ve been highly motivated applicants when they approached the Federal Court recently seeking to extend the convening period for the second meeting of creditors of Highrise Telecoms Pty Limited. The Deloitte duo were appointed administrators of the company by secured creditor Buroserve Australia at the beginning of October. According to the judgment of Justice David Yates in Mansfield, in the matter…
A court has ruled that an application by a Sydney liquidator to appeal orders for an inquiry into his conduct will be heard next year. On Friday last week the Federal Court ordered that the application of David Iannuzzi for both an extension of time and leave to appeal be heard and determined by a Full Court immediately prior to, or concurrently with, any appeal…
Correction & Clarification You know you’re in for a rollicking read when a judge begin his reasons thus: “The appellant (Mr Moss) is a solicitor. For reasons that are not presently relevant, he decided to invest in timber and walnuts. The result has not been a happy one.” The Moss on this particularly log is Sydney lawyer Stephen Moss, formerly of Slater & Gordon, and…
It sure seemed odd. A barrister, acting for the Commissioner of Taxation (CoT), arguing in defence of a case mounted by receivers from Hall Chadwick seeking to recover monies from the Commissioner. The venue for this curious scene was the Federal Court in Queensland and in NSW simultaneously thanks to video link, where Justice Andrew Greenwood yesterday heard an interlocutory application brought by the CoT in…
The takeover of PPB Advisory (PPBA) by PwC might have been declared complete two months ago but for some at least, hostilities persist. In the most recent outbreak PPBA was served with a statutory demand for unpaid draw down by one of the many former senior staffers still holding equity in what is now in effect an incorporated unit trust in wind down. We understand…
The dispute around control of Rushcutters Bay eatery Bar M – formerly known as Bar Machiavelli Pty Ltd – has Hurst Recovery’s David Hurst in court urgently seeking to unwind transactions that could ultimately see him liable to pay a costs order for at least $60k and other as yet unallocated costs. At the same time, those who referred him the job – restaurateur Paola Toppi and…
From a purely superficial perspective, the most significant takeaway from ARITA’s 25th national conference was the delegate satchel, a cunningly fashioned navy blue holdall which resembled a gym bag but accommodated all the merch fit to pinch from this most sedentary of industry events. From the perspectives of knowledge and of insight, elevating one moment among the many over the two days is not so straightforward….
The most recent Minutes of the meeting of the Queensland Nickel Committee of Inspection (COI) reveal that luring PPB Advisory co-founder Steve Parbery down to Barangaroo has already begun to paying dividends for Ferrier Hodgson. Since Michael Owen resigned as special purpose liquidator (SPL) of Queensland Nickel ahead of moving to PwC as part of the now concluded takeover (first revealed by INO in March…