dVT Group co-founder Riad Tayeh PCI Partners Stephen Michell. dVT Group co-founder Riad Tayeh was yesterday bankrupted by order of the Federal Circuit and Family Court over a $5.4 million debt owed to the creditors of Timbercorp Finance. The 58 year old liquidator from Sydney’s west has spent more than a decade . . . Restricted Content Dear Reader, this story is available only to…
Hall Chadwick partner Kathleen Vouris. Last week saw one of those scenarios – not entirely uncommon – where the chair of a deadlocked meeting has to give effect to the phrase “creditors will determine the future of the Company”. As well as defenestrating the spirit of the term in its purest sense, chairman or chairwomen choosing to use their power to break a deadlock invariably…
Aston Chace co-founder Steve Naidenov. Jones Partners’ Bruce Gleeson. Some exads are like centrifuges. Run them long enough and all manner of ejecta is disgorged. The liquidation of MK Floors (NSW) Pty Ltd is a case in point. As some iNO readers will recall, the MK Floors administration distinguished itself early on when . . . Restricted Content Dear Reader, this story is available only…
Sheridan’s Chartered Accountants principal Jennifer Low. Pitcher Partners’ Bryan Hughes. Torrid times in the West last week as the managing partner of Pitcher Partners WA was grilled in a Supreme Court witness box at the behest of a rival liquidator. The occasion was the public examination of directors and others linked to the 2018 failure . . . Restricted Content Dear Reader, this story is…
Worrells partner Jason Bettles. While ASIC landed no killer blow yesterday Worrells partner Jason Bettles could not be said to have exited the Federal Court witness box unburdened by any remaining questions in respect of his involvement in the Members Alliance Group (MAG) and Benchmark Wealth affairs. The most obvious of those stubbornly clinging questions is why. Why did he decline to ask questions and…
Grant Thornton’s Mike McCann. Mackay Goodwin’s Domenic Calabretta. Creditors’ distaste for fees is on full display this week with the release of the Minutes of the May 11, 2022 meeting of CRCG Rimfire (CRCG). The meeting was convened upon the application of creditors seeking to oust incumbent CRCG . . . Restricted Content Dear Reader, this story is available only to iNO Priority subscribers. iNO…
Agility Law Group managing director Levi Smouha. Cor Cordis partner Sam Kaso. There was always the likelihood with a collapse of the scale of Remi Capital Group that some of those exposed to the $125 million failure would be of the secured kind. In the case of Remi group entity Remi (Tarneit) Pty Ltd, the appointment of
RRI Advisory’s Trajan “John” Kukulovski. iNO readers may well remember our exclusive story of August 2, 2019 that exposed the tumult that had quietly engulfed Jirsch Sutherland back in 2015 as a consequence of an unspecified “confession” by former director Andrew Ngo. The alleged “confession” led to a meeting between ASIC officers and Jirsch founder Rod Sutherland and then managing partner Sule Arnautovic on November…
BRI Ferrier’s Peter Krejci. A judge hearing a motion days out from the hearing of a bid for orders that disputed assets belong to a company in liquidation and not its underlying trust said yesterday that the case involves features he’s not encountered in 40 years of practising law. “You were attempting to elicit the truth, and legal proceedings sometimes stand in the way of…
PKF partner Glenn Franklin. PKF partner Petr Vrsecky. Following their historic win in the Supreme Court of Victoria last month, two PKF Melbourne partners have secured orders in respect of the court’s finding that a business sale agreement constituted a creditor-defeating disposition and an illegal phoenix transaction within the meanings of ss 588FDB and 588FE(6B) of the Corporations Act 2001. As many iNO readers will…