Articles by Peter Gosnell

Judge dismisses bid for leave to sue liquidators

dVT’s Riad Tayeh dVT’s Antony de Vries There’s a line in the television series Mad Men where Roger Sterling of fictional advertising agency Sterling Cooper says: “advertising’s a great business, except for the clients”. Some Liquidators might feel that sentiment could equally apply to the business of insolvency, except “clients” – at least in the case of dVT founders Anton de Vries and Riad Tayeh…


TALENT TRANSFER – Duff & Phelps snares PPB alumni

Duff & Phelps’ Ken Whittingham. Signed with Duff & Phelps: Marcus Ayres. For some time Talent Transfer has been wondering where insolvency veteran Ken Whittingham would land since departing PwC. Now we know. The former PPB partner, who endured less than a year at the big four consultancy before succumbing to the conflict-a-thon, has emerged in a senior role at the Sydney office of global…


Abuse of process challenge to VAs’ appointment

Cor Cordis partner Alan Walker. When voluntary administrators are appointed almost six weeks after winding up proceedings are commenced, you can guarantee that those seeking a liquidation will consider attacking the appointment as an abuse of process. Such is the situation Cor Cordis couple Alan Walker and Andre Lakomy have found themselves in after accepting an appointment as VAs of CGA (Aust) Pty Ltd on…


Freeze Safe Harbour Provisions: ARITA president

ARITA President Scott Atkins. AIIP President Stephen Hathway. ARITA president Scott Atkins wants businesses seeking safe harbour protection to be exempted from compliance with their tax and employee obligations as the COVID-19 pandemic threatens to decimate Australian SMEs. Atkins, who is Head of Risk Advisory at Norton Rose Fullbright, said to prevent mass insolvencies the federal government should freeze laws around insolvent trading and safe…


SPL gunning for dVT duo

Approved and funded to pursue: SPL Giles Woodgate. Sydney liquidator Giles Woodgate has won backing to pursue dVT Consulting duo Suelen McCallum and Riad Tayeh for possible breach of contract or negligence. In the matter of ACN 152 546 453 Pty Ltd (Formerly Hemisphere Technologies Pty Ltd (In Liq)) [2020] NSWSC 270 NSW Supreme court judge Arthur Emmett this week agreed to extend Woodgate’s powers…


Pandemic to test Safe Harbour, profession

McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Ankura senior managing director Quentin Olde. While the extent of the impact on business of the COVID-19 pandemic remains unknown, what is certain is that Australia’s nascent safe harbour regime and the capacities of our insolvency firms are set to be tested like never before.  Restructuring practitioners contacted this week confirmed they were fielding more enquiries from company directors…


Related party defendants fail in bid for exclusion

Grant Thornton’s David Hodgson. Grant Thornton’s Andrew Hewitt. Over in the sand groper state Grant Thornton’s David Hodgson and Andrew Hewitt have had some joy as they herd related-party creditors acting like aristocratic cats unwilling to mix with those common moggies in receipt of garden-variety preferences. In David Mark Hodgson as joint and several liquidators of Diploma Construction (WA) Pty Ltd (In LIQ) (Receivers and…


Liquidator’s debt proof rejection could cost

Liquidator Schon Condon. A decision by a Sydney liquidator to refuse the bulk of a $423,935.53 proof of debt looks set to be reversed following the handing down of a judgment in the NSW Supreme Court. In the matter of Azmac Pty Limited (in liquidation) [2020] NSWSC 204 Justice Kelly Rees details how Schon Condon, as liquidator of Azmac Pty Limited, knocked back the bulk…


KPMG trio refinance to keep McGrathNicol pair out

KPMG’s Gayle Dickerson. McGrathNicol’s Kathy Sozou. One thing KPMG’s Gayle Dickerson, Tim Mableson and Ryan Eagle did not want as they laboured over McWilliams Wines Group’s (MWG) debt-tainted assets through January and early February was McGrathNicol relieving them of the opportunity to engineer a sale. The KPMG trio were appointed voluntary administrators early in January and are optimistic they can conclude a transaction by July….


UK judges side with Oz Liqs over spreadsheet error

If you are in doubt about the capacity for bloody-mindedness among and within the big four accounting firms read on as iNO recounts how administrators of a Lehman Brothers entity in the UK and Lehman-associated liquidators in Australia slugged it out in the courts for almost four years over an error in a spreadsheet. The tale comes courtesy of the Royal Courts of Justice in…