Deloitte partner Jason Tracey. Deloitte partner Luci Palaghia. A Federal Court judge has killed off any chance three KordaMentha parters had of generating a ton of fees from the administration of a troubled investment fund. Instead the fees will flow into the coffers of Deloitte’s insolvency and restructuring practice after Justice Mark Moshinsky yesterday ordered that Michael Korda
Vanguard Insolvency Australia principal Mohammad Najjar. Never buy downhill from a servo is one of the many lessons to be gleaned from the recent decision of Associate Judge Joanne Harrison in the matter of Seaforth Securities Pty Limited v Zoya Investments Pty Limited [2024] NSWSC 1061. In granting plaintiff Seaforth Securities’ (Seaforth) application for more than $9.3 million in damages against Zoya Investments . ….
iNO is off to the tropics for R&R, Indian Ocean-style, and will be back on Friday, September 6.
Yan (Leann) Li of Crossroads Insolvency.A trustee in bankruptcy has been denied remuneration and will be required to disgorge funds from his trust account in respect of a dodgy petition, acceptance of which rightly embarrasses multiple parties, from the duplicitous debtor, to the trustee, a member of the trustee’s staff, and the Official Receiver. ” a trustee’s pre appointment conduct will be a reason for…
Deloitte’s Robert Woods.Deloitte partner Sal Algeri.Liquidators who identified claims against directors have persuaded a court to green light their decision to walk away without pursuing the claims, and they’ve made sure the public can’t know why.“In all the circumstances I accept that it would be just and beneficial to the liquidation process to afford the Liquidators protection against any allegations that might be made that…
Jones Partners principal Bruce Gleeson. Helm Advisory managing director Stephen Hathway.By an expensive and torturous route, the insolvency practitioners in control of Dalma Form Specialist Pty Ltd (DFS) have gotten to where they’ve said they wanted to be all along, which is as Liquidators appointed.The desired destination was reached on Wednesday when Federal Court judge Justice Brigitte Markovic ordered that the Deed of Company Arrangement…
Steve Kugel of The Insolvency Experts.Costa Nicodemou of Newpoint Advisory.Worth a try is one way to describe a Sydney liquidator’s efforts to determine whether he was entitled keep money mistakenly paid by the ATO. Another way perhaps is to acknowledge that once the misdirected money arrived in an account the liquidator controlled, it was his duty to confirm whether he was obliged to repay it…
KordaMentha partner David Johnstone.Remagen Capital’s Simon Raftery.The imbroglio that is New Wilkie Energy (NWE) keeps on giving.So far we’ve seen the original administrators from BRI Ferrier replaced then sued by trade suppliers, BDO Corporate commence action to wind up a related entity not in VA and now it appears that the appointing director was potentially a man of straw who agreed to be installed as…
McGrathNicol’s Anthony Connelly.McGrathNicol’s Jamie Harris.You know you’re on a winner when the self-described “restructuring specialist” you’ve fingered as a phoenix scheme architect offers to give back the dough.You also know – because you’re an experienced insolvency practitioner who’s been around the block – that nothing is ever simple, and as is shown in the case of TSK QLD Pty Ltd (TSK), such offers are invariably…
Domenic Calabretta. Image: Mackay Goodwin.Despite a setback earlier this week, Mackay Goodwin principal Dominic Calabretta is reportedly heading back to court today to continue the pursuit of a costs order won by a former client of his appointor, lawyer Farshad Amirbeaggi of Yates Beaggi Lawyers (YBL).“Counsel were unable to locate, and I have also been unable to find, any case in which the appointment of a receiver had…