Articles by Peter Gosnell

Leigh plea anticipated on November 2

David John Leigh, the suspended liquidator who’s alleged to have purloined up to $800,000, could be preparing to enter a guilty plea when he returns to the Brisbane Magistrate’s Court on November 2. In September Leigh, 56, of Sherwood in Brisbane was summonsed to appear on three counts of dishonestly gaining a pecuniary benefit in excess of $100,000 on each count on July 25, 2017,…


Employing referrer sees SV Pair to reissue DIRRI

A stoush with the Commissioner of Police, employing one’s referrer, having to include the terms of that employment in a supplementary DIRRI – United Security Enterprises Pty Ltd has plenty for administrators Shumit Banerjee and Jason Porter to sink their teeth into. The SV Partners pair were appointed VAs back on August 31 after being contacted by the company’s accountant Jai Menon. If that surname looks familiar…


Judge punts Worrells partner in favour of Ferriers

There’s an intriguing little backstory to last week’s headline event that saw a judge deny Worrells partner Graeme Beattie the role of liquidator  of Bux Global Pty Ltd. Beattie accepted the appointment on October 4 following a referral in September from Jirsch Sutherland partner Daniel Civil. What he didn’t know was that on the same day in the Federal Court in Perth, orders were made appointing Ferrier Hodgson’s…


Liquidator repels FEG replacement bid – for now

Mackay Goodwin’s Domenic Calabretta has fought off a bid to replace him with Ferrier Hodgson partner Robyn Duggan but the Minutes of the September 24, 2018 meeting of creditors of Condura Pty Ltd suggest those backing Duggan aren’t giving up. Condura Pty Ltd appointed Calabretta via a members voluntary liquidation (MVL) on December 6, 2017, one day after the company lodged a declaration of solvency…


$2 million priority dividend not enough to fend off FEG

David Solomon and Riad Tayeh may be preparing to pay a $2 million dividend to a priority creditor of 1st Fleet Pty Ltd (in liquidation) but that hasn’t stopped that same creditor belting the dVT partners with litigation that had its first airing in the courts this week. No details were ventilated when the matter came on for first directions on Wednesday but Minutes of the…


10 per cent queue for liquidator reviewing gig

In what might be a sign of lean times, almost 10 per cent of Australia’s registered liquidator population has applied for a place on the reviewing liquidator panel proposed by ASIC last August. Association of Independent Insolvency Practitioners (AIIP) president and Helm Advisory principal Stephen Hathway said today that the number of applicants was disclosed by ASIC during meetings this week as part of its bi-annual…


Insolvency Appointment Stats – September Quarter

With the September Quarter now concluded Stratos Legal has tallied up the insolvency appointments and as usual the results make compelling reading. Yet again Worrells has demonstrated its iron grip on the market for creditors voluntary liquidations (CVLs). The national firm topped the list for CVLs in the three east coast states and in South Australia, leaving the firm well placed to finish 2018 at the…


Cullen Group: FEG on collision course with creditors

Liquidator Michael Caspaney may soon head to court to have a funding agreement with FEG ratified after creditors of Queensland construction firm Cullen Group Australia rejected the deal on the basis it would bankroll pursuit of sub-contractors who had received more than $4 million in preference payments. Readers of Insolvency News Online may recall that Caspaney was installed at the first meeting of creditors back…


Sheahan and Lock secure compromise on BCI debts

John Sheahan and Ian Locke have obtained the imprimatur of the Federal Court for a deal which will see significant sums paid to the Australian Tax Office (ATO). The deal represents a partial settlement of the long running BCI Finances dispute, but in his judgment of September 28, 2018 Justice Richard White was at pains to remind the South-Australian-based practitioners that if this deal goes sour it’s…


Majella Capital DoCA proponents defeated

Hall Chadwick’s aspirations to administer deeds of company arrangement (DoCAs) over the Majella group have been incinerated, with the creditors most critically burned by the property group’s implosion pairing up to vote down resolutions that would’ve seen a meeting adjourned so as to allow time for the issues impeding the DoCAs to be removed. Instead, Glenn Shannon, Richard Albarran and David Ingram must content themselves with…