Articles by Peter Gosnell

Diploma funding deal attracts judicial spray

Grant Thornton partner David Hodgson. At some point an academic or authority will crunch the numbers and prove that litigation funding either benefits creditors or it does not but for present purposes a recent decision of the Supreme Court of Western Australia might provide confirmed cynics with all the proof they already know they don’t need. ” … the effect of the funding agreement is…


Administrator ditched in shareholder dispute

de Jonge Read’s Hank de Jonge. David Ross of I&R Advisory. Shareholders in dispute, oppression suits, an administrator ousted, DoCAs of doubtful provenance, even a phoenix sighting – dull moments don’t last long in the Corporations List at the NSW Supreme Court. This week the aforementioned elements swept monotony aside when representatives . . . Restricted Content Dear Reader, this story is available only to…


Wife of ex-liquidator hit with $970k demand

Peter Amos outside the NSW District Court. As Peter Andrew Amos prepares to face sentencing and possible incarceration, liquidators of his former practice are focussing on the disgraced insolvency practitioner’s wife as a potential source of recoveries. “We are not, based on preliminary searches and enquiries, aware of any significant assets owned by the Director, apart from his interest in certain matrimonial assets subject to…


Coal-fired conundrums continue for Callide GPLs

Deloitte partner Richard Hughes. Deloitte partner Grant Sparks. While the parties warring over the 2021 turbine failure at the Callide C Power Station cross swords over subpoenas and whether legal privilege attaches to a much anticipated report into the incident, the general purpose liquidators (GPLs) involved are struggling to get paid. According to documents lodged with ASIC Deloitte . . . Restricted Content Dear Reader,…


Deloitte trio dodge inquiry bullet, for now

Deloitte partner Matthew Donnelly. Three Deloitte restructuring and insolvency partners have gone within a whisker of being ordered to submit to a conduct inquiry but remain potentially at risk after a judge of the Federal Court last week left the way open for the plaintiff in the proceedings to continue its pursuit. Orders made by Justice Michael Feutrill last week mean West Australian electricity generator…


Hall Chadwick clips Bonza’s ticket at $1k per hour

Hall Chadwick partner Kathleen Vouris. Having surrendered the aircraft and attracted no offers it seems all that was left for the administrators of failed budget carrier Bonza Aviation to do was sack the staff, which they’ve done, via zoom. Having previously disclosed to creditors that their fees were at times reaching $1,000 per hour – which is not that significant a figure when you consider…


Liquidator’s company facing insolvency over tax debt

Cascap Advisory’s Brian Silvia. When you profess expertise in cost control, cashflow management and the sundry other indicia of insolvency, acquired during a career spanning decades, receiving a winding up notice must come as a surprise. When that notice is filed in a court by lawyers acting on behalf of the Australian Taxation Office (ATO), along with affidavits in support and a liquidator’s consent well,…


Owners Corp out to make VAs rue casting vote

No doubt Andrew Spring and Peter Moore expected challenges when they accepted appointments last year as voluntary administrators (VAs) of embattled builder Academy Construction & Development Pty Ltd (AC&D). “At this stage we have no reason to doubt the account provided by the Director”. Jirsch Sutherland’s Andrew Spring and Peter Moore. At the time the referrer came calling in July 2023 AC&D had been defending…


Bid for fees from project and retention trusts rebuffed

RSM’s Mitchell Herrett. RSM Partner Jonathan Colbran. A decision in the Supreme Court of Queensland has done nothing to clear the fog around the question of external administrators’ entitlements to fees and costs from trusts established pursuant to Queensland’s Building Industry Fairness (Security of Payment) Act 2017 (BIF Act). “It is not appropriate for the Court, in the context of making directions, to make directions…


Investigating appointors on the cheap

David Ross of I&R Advisory. I&R Advisory’s David Ingram. Investigating whether their appointors were themselves validly appointed has created quite the conundrum for David Ingram and David Ross, Hall Chadwick alumni who struck out to launch I&R Advisory in December 2021. In the Federal Court on Monday judge Yaseen Shariff was told that in their capacities as liquidators of MCA Tag No.1 Pty Ltd (MCA)…