Articles by Peter Gosnell

Another inadvertent deregistration via 5603

PKF’s Brad Tonks. Imagine, if you are so predisposed, a day when the ASIC database communicates with itself. Information uploaded dissolves instantly into a cyber solution. There it’s compared with every relevant byte of meaning already saturating ASIC’s deep reservoir of data. At quantum computing speeds, the digital litmus satisfies itself, classifying the intel as compliant with the myriad rules and regulations that have been…


Ball’s ban a consequence of complicated discipline

iNO OPINION BPS Recovery’s Mitchell Ball. When iNO read through the reasons provided last week in support of a 12 month curtailment of liquidator Mitchell Ball’s right to accept new appointments, what was demonstrated very clearly was that discipline can be a complicated affair. This was no straightforward suspension. This was discipline of convenience. While Ball was banned from accepting any appointment for a year…


Ben Craw departs PwC

At PwC no longer: Ben Craw PwC has lost a respected name in the food and agribusiness sector with Ben Craw leaving to form a new venture in partnership with Gunn Agri Partners. Formerly part of PPB Advisory’s well regarded agribusiness division, Craw joined PwC 18 months before it swallowed PPB whole. Craw, 41 didn’t respond to inquiries by deadline but his Linked In profile…


Liquidator replaced after admitting related party debt

PKF’s Brad Tonks. The admission of a related party debt appears to have been sufficient for a court to agree to replace an incumbent liquidator with an applicant creditor’s preferred appointee. In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 NSW Supreme Court judge Ashley Black made orders replacing liquidator Adam Farnsworth with PKF’s Brad Tonks. This was on the application…


KordaMentha to appeal Arrium decision

Arrium deed administrator Bryan Webster. It’s not too often that directors of an insolvent entity or group have the external administrators fighting tooth and nail to keep them out of court. This would appear to be the case however after Arrium‘s deed administrators flagged their intention to appeal a recent judgment which has paved the way for a public examination of former director Colin Galbraith….


Breaking: BRI Ferrier defectors rebadging as SV Partners SA

Stuart Otway. Alan Scott. The rumour mill’s running hot as Hades in the city of churches with iNO reliably informed that BRI Ferrier duo Alan Scott and Stuart Otway are preparing to rebadge as SV Partners. SV partners and Jirsch Sutherland have been making approaches to Adelaide-based insolvency practitioners for some time according to our sources and it would seem that SV has decided to…


Contrition and circumstances save Ball’s bacon

BPS Recovery’s Mitchell Ball. Jump on directors, back-dated documents, low ball fees and a common referrer – a disciplinary committee convened to consider whether liquidator Mitchell Ball should remain registered has benched the BPS Recovery partner for a year but declined to cancel his registration. Making its findings public yesterday the committee said that Ball’s contrition, the calibre of those providing endorsements of his character…


Delay sees trustee ordered to repay $180k

Trustee Tim Holden. Victorian-based bankruptcy trustee Tim Holden has had some salt rubbed into wounds inflicted earlier this year but also dodged a bullet, with a judge rejecting his opposition to the making of declarations in respect of judgments handed down earlier this year but declining to refer him for investigation to the Inspector-General in Bankruptcy. The insertion of the salt came via Pekar v…


Craig Walton bankrupt after GPLs examine liquidator

Bentleys’ Tracey Knight. Liquidator Jim Downey Craig Walton, a key figure in one of the most controversial corporate restructures of recent times, has declared bankruptcy a week before the commencement of a trial brought by liquidators chasing the 63 year old for a $1.65 million debt. A search of the National Personal Insolvency Index reveals Craig Hall Walton, unemployed of East Melbourne, declared himself bankrupt…


Trustee recommends section 77AA complacency buster

Jones Partners’ Michael Jones. Last Friday a Coffs Harbour resident who had yet to file his statement of affairs despite being bankrupted two years earlier was surprised to find police and officers from AFSA knocking on his door around 7:00am. Once admitted the AFSA officers seized various items pursuant to the powers provided to the Official Receiver under section 77AA of the Bankruptcy Act. Also…