Ex-liquidator Peter Amos before sentencing today. Former liquidator Peter Andrew Amos has been gaoled for a minimum two years, almost 12 months to the day after pleading guilty to six charges of dishonesty and unjust enrichment. Amos, who’s been living at Avoca while on bail, was handcuffed by corrective services officers and led from the court with his partner looking on after being sentenced to…
BDO partner Shaun McKinnon.BDO’s Andrew FieldingLiens it seems are durable beasts, not to be easily dissolved by liquidation which begs the question was there ever any chance that the former deed administrators (DAs) of the contentious Project Sea Dragon Pty Ltd DoCA would be denied their costs when the whiffy saga was at last laid to rest?Certainly with no objection from the other parties, including…
BRI Ferrier’s Peter Krejci. A liquidator being funded by the Commissioner of Taxation (CoT) has defeated an attempt to derail public examinations by respondents who argued that the liquidator’s true purpose was to investigate their tax affairs as opposed to the relevant companies’ examinable affairs.“I do not accept that there was an arguable case as to an improper purpose based on the various inferences that the applicants invited me…
Jason TraceyGlen KanevskyThe ranks of senior restructuring and insolvency talent at Deloitte continue to be thinned with the news yesterday that NSW turnaround and restructuring group leader Jason Tracey will defect to American heavyweight Alvarez & Marsal (A&M).The Australian Financial Review (AFR) reported that Tracey, who’s been with Deloitte for more than two decades, has resigned from the Deloitte partnership and will be appointed A&M’s…
Cor Cordis partner Tom Birch.Cor Cordis partner Kate Conneely.When a person listed as a director on the ASIC companies database gives their residential address as a chunk of forest you know something’s up.And when that director is found to be a Chinese national who’s never set foot in Australia, well you might, being an insolvency practitioner who spends a bomb annually purchasing information from ASIC,…
Sales Advisory founder Sule Arnautovic. (Image https://www.salea.com.au)A decision by an administrator to use his casting vote to push through a deed of company arrangement (DoCA) at the recently held second meeting of creditors of WMINES Limited has blown up after a secured creditor obtained orders in the Federal Court restraining the administrator from giving the deed effect.“The Chairperson stated it was his belief that the…
Worrells principal Graeme Beattie.A court’s refusal to adjourn the hearing of a winding up application this week reminded iNO that there is no greater optimist than a non-compliant director.In the matter of De Security Solutions Pty Ltd, NSW Supreme Court judge Ashley Black on Monday was asked to adjourn the hearing of a winding up application being brought by Workers Compensation Nominal Insurer (WCNI).That request…
SV Partners Stuart Otway.SV Partners Matt Ormsby.Two SV Partners directors will need to find funds to pay indemnity costs after a court ruled that their reliance on flawed legal advice was no excuse for stonewalling a secured creditor trying to recover its property. Failing a successful appeal the lawyers advising the pair may notice a diminishment of referrals going forward. “On 24 September 2024, ClarkeKann sent an…
BPS Reconstruction & Recovery partner Simon Nelson.If ever there was a judgment whose contents could legitimise efforts to codify misinformation so as to justify suppressing it then a recent decision from the Supreme Court of Victoria is it.“The documents supplied by Einsiedels on behalf of the first defendant were nothing more than pseudo-legal gibberish. The documents filed by the first defendant with this Court, including…
Olver Advisors principal Neil Cussen.What happens when a judge denies a fully funded liquidator their opportunity for a little forensic strategising? An appeal is what.“the advice received by the liquidator did not contain any advice that a failure to serve the originating process within the time prescribed by r. 2.7 may cause the applicants to breach the Court’s rules as to service of originating process;”…