Articles by Peter Gosnell

Liquidator prevails over entity without a bank account

DV Recovery Management’s Daniel O’Brien. It’s tough to argue that a company isn’t impecunious when it doesn’t have a bank account. Just ask the Sydney barrister who turned up to advocate for this proposition before NSW Supreme Court corporations judge Ashley Black on Monday. The barrister – Daniel Krochmalik of 3 St James – has had plenty of experience and some success before Black J…


Compromise refused equals indemnity costs imposed

Chris Baskerville of Jirsch Sutherland. The Federal Court made orders yesterday highlighting the unpalatable realities facing liquidators who choose to reject offers of compromise. In this tale Jirsch Sutherland Queensland head Chris Baskerville, in his capacity as liquidator of Dig It Landscapes Pty Ltd (Dig It), chose to reject an offer of compromise made by Bupa Aged Care Australia Pty Ltd on December 17, 2020….


Missing monies’ Labor links makes waves for AFSA

Former bankruptcy trustee Paul Leroy. iNO hears that after Sydney bankruptcy trustee Paul Leroy departed our shores last year – allegedly taking money that wasn’t his – it was more than expectant creditors whose world’s were rocked. Our sources advise that anchors are dragging and the needle is all round the compass in the offices of the Australian Financial Security Authority (AFSA) thanks to the…



Judge chooses cheapest, unfunded option

KPT Restructuring’s Jason Tang. KPTB Restructuring’s Ozem Kassem. 2024 has opened with a rash of contests between parties who want their preferred liquidator installed in preference to their opponent’s nominee and this week the trend persisted, with a twist. On Monday 8 Wentworth’s Ahmed Rizk urged Judge Tony McGrath to reject his opponent’s nominee on . . . Restricted Content Dear Reader, this story is…


Deloitte duo’s Callide migraine persisting

Deloitte partner Richard Hughes. Deloitte partner Grant Sparks. Following their appointment in January as Special Purpose Administrators (SPAs) of IG Power Called Pty Ltd (IGPC) FTI Consulting’s John Park and Ben Campbell moved swiftly to ensure their general purpose equivalents didn’t impose burdensome obligations that might impede their work and yesterday that speed . . . Restricted Content Dear Reader, this story is available only…


ARITA committee member’s re-election bid wobbling

O’Brien Palmer partner Liam Bailey. Hogan Sprowles partner Michael Hogan. O’Brien Palmer partner Liam Bailey‘s campaign for re-election to the ARITA NSW/ACT Divisional Committee was dealt a blow this week following the release of a detailed and potentially prejudicial report to creditors of McCorkell & Associates. Authored by Michael Hogan, who replaced Bailey as liquidator of the ad agency in 2023, the Hogan Sprowles partner…


Pitcher pair beg Burke for pre-liquidation payout

Pitcher Partners’ Lindsay Bainbridge. Pitcher Partners’ Andrew Yeo. When the CFMEU argues that delaying liquidation advantages uptown toffs at the expense of workers, cooperation is the way to go. Certainly a collaborative approach was on show last month when Pitcher Partners Andrew Yeo and Lindsay Bainbridge headed to the Supreme Court of Victoria seeking an extension of the convening periods for the second meetings of…


VAs and ATO at odds over alleged $150m fraud

Jones Partners principal Bruce Gleeson. Jones Partners Daniel Soire. Barring any road to Damascus conversion, Bruce Gleeson and Daniel Soire might anticipate hostility from certain quarters when they finally reconvene the second meeting of creditors of Dalma Form Specialist Pty Ltd (DFS). The Jones Partners‘ pair adjourned the second meeting on February 7 for up to 45 business days, ostensibly so they could conduct investigations…


Higher fees sees Judge reject Hall Chadwick

Hall Chadwick partner Blair Pleash. Marcus Watters of Hall Chadwick. Deciding which party’s liquidator will be appointed has occupied the minds of more than a few judges so far this year, but the following is the first decision in which respective charge out rates have figured prominently in the judicial deliberations. The matter comes courtesy of two directors who fell out and could agree only…