HLB Mann Judd partner Todd Gammel. The administration of artificial intelligence aspirant Strong Room Technology Pty Ltd (SRT) began in colour and controversy and recent events suggest the voluntary administrators (VAs) have yet to apply a satisfying veneer. Creditors were due to vote yesterday with VAs Todd Gammel, Barry Taylor and Matthew Levesque-Hocking having recommended in their 439A Report that the company be wound up…
EY’s Justin Walsh. Until this week ASIC’s pursuit of REX Airlines and its directors had also been causing the company’s voluntary administrators (VAs) unease given the potential costs of complying with court orders the regulator’s obtained for disclosure and discovery. But Samuel Freeman, Adam Nikitins and Justin Walsh can now shelve the Xanax. In the NSW Supreme Court yesterday orders were made which will see…
Bradd Morelli probably wasn’t surprised when served with proceedings aimed at setting aside the LM Futures Pty Ltd Deed of Company Arrangement (DoCA). The Jirsch Sutherland managing partner had rammed through the DoCA resolution with his casting vote at the virtual second meeting of creditors last year, and those opposed have not forgotten. Accusations had after all dominated the July 9 second meeting. Accusations regarding…
Hall Chadwick WA partner Cameron Shaw. Few things provoke creditors more than the suspicion – validly held or not – that administrators are in cahoots with their appointors, though charging $650,000 in fees for four week’s work can also p[rove combustible. In the case of Perth home builder Mercedes Group, there’s a surfeit of doubt amongst the unsecureds due in part to the administrators’ unfinished…
PKF’s Jason Stone. From iNO’s perspective the collapse of the Ponzi scheme operated by West Australian Chris Marco had been most notable for the public scourging meted out in respect of fees charged by the former administrators of Marco’s AMS Holdings (WA) Pty Ltd (The Company). In April 2024 Federal Court judge Michael Feutrill ruled on a challenge to almost $1 million billed by Richard…
Lowe Lippmann partner Gideon Rathner. While the Keybridge Capital Limited brouhaha continues to be an active dispute with an appeal hearing imminent, administrator-in-limbo Gideon Rathner has escaped most of the blast in respect of last week’s costs orders. “I do not consider that all of the Administrator’s costs of the proceeding were “reasonably and properly incurred”, and am satisfied there should be a proportionate reduction in his right to be indemnified from…
BRI Ferrier’s Andrew Cummins. Litigation between the provisional liquidators (ProvLiqs) and receivers of entities linked to controversial advisor Sam Cassaniti and related parties shows no sign of slackening, with submissions on a fresh challenge on conflict grounds coming before the Federal Court this week. ERA Lawyers a running two sets of proceedings for Peter Krejci, Andrew Cummins and Jonathan Keenan as the BRI Ferrier trio…
ADVERTORIALAIIP Conference Guest Speaker Norman SwanAfter dominating conference agendas in recent years law reform’s taking a back seat at the next conference of the Association of Independent Insolvency Practitioners (AIIP) with organisers turning their attention to what keeps practitioners awake when the market’s running hot.Staff retention, time pressures, practitioner health, both mental and otherwise. These issues are looming large for practitioners as appointment numbers multiply…
B&T Advisory Director Travis Pullen.The attitude of the ATO will be front of mind for B&T Advisory’s Travis Pullen as he delves into the circumstances preceding his appointment as liquidator of polling firm uCommunications Pty Ltd (uComms).Pullen was appointed on April 16 via a resolution to voluntarily wind up the company moved by sole director and shareholder James Stewart.In a report published this week, The…
Lowe Lippmann partner Gideon Rathner.Editor’s Note: On April 17 the NSW Supreme Court extended to May 9 a stay on the order of April 14 that the administration of Keybridge Capital Limited end with immediate effect pending the hearing of an appeal. The upshot is that administrator Gideon Rathner will remain in place until the appeal is decided. See: Bolton v WAM Active Ltd [2025]…