KPMG’s Martin Jones. KPMG partner Hayden White. Mindful of the scrutiny being applied by ARITA and ASIC to three EY WA partners, three WA domiciled restructuring practitioners at KPMG have moved early to quell conflict concerns in respect of their appointments last week as voluntary administrators (VAs) of Salt Lake Potash Limited (SLPL). In making their declaration of relevant relationships, independence and indemnities (DIRRI) KPMG…
Worrells’ Christopher Darin. Hall Chadwick’s Richard Albarran. Unexploded munitions, restive tribespeople, a controversial Chinese-Australian-Malaysian businessman, a Solomon Islands High Court-ordered $50 million payout ruling and a government reluctant to pay – what self-respecting insolvency practitioner wouldn’t want a slice of this pie? Certainly neither Worrells Chris Darin or Hall Chadwick’s Richard Albarran and Kathleen Vouris are showing any signs that the flavour – more copra…
Worrells’ Christopher Darin. Hall Chadwick partner Kathleen Vouris. Worrells Chris Darin and Hall Chadwick’s Kathleen Vouris and Richard Albarran are at odds over documents and dealings relating to world war two (WWII) battlefields in the Solomon Islands part-owned by Australian companies Orbis Commodities Pty Limited (Orbis) and Pacific Investment Holding Pty Limited (PIH). “although the adjournment sought is unusually long, I accept that decision-making may…
Despite his legal team pitching arguments that were said to have at times lacked clarity, a Sydney liquidator has been spared the ignominy of paying up to $500,000 in indemnity costs for a failed attempt at replacing a receiver. Instead, NSW Supreme Court justice Kate Williams has ordered that the costs of the defendants In the matter of Sirrah Pty Limited (In Liquidation) (No 2)…
EY’s Sam Freeman. EY’s Colby O’Brien. Two of EY’s finest are not letting any impending ARITA sanction impede progress of their work as administrators and liquidators of Pindan Group, the West Australia-based construction and property group that availed itself of EY’s reassuringly familiar services in May of this year. Last month in the Supreme Court of West Australia Sam Freeman, Colby O’Brien and Vincent Smith obtained various grants…
Hogan Sprowles partner Brendan Copeland. Fish rotting under floorboards, anti-vacaters, rivals threatening to scrutinise your fees and freezing orders impeding progress – as liquidator and receiver of Fellmane Pty Ltd Brendan Copeland has earned his fees. Certainly NSW Supreme Court judge Ashley Black thought so when on Monday he found no reason to block or discount the Hogan Sprowles partner’s claim for $263,000 in remuneration,…
KPMG partner Stephen Vaughan. KPMG Partner Ian Hall. The interim divvie’s distributed, it’s twin awaits only delivery of a judgment reserved and now an application for remuneration – brought by BBY Limited’s liquidators Stephen Vaughan and Ian Hall in 2017 and adjourned in 2018 – has at last come to pass. “The total value of the assets (CSAs and recoveries) for which the liquidators have…
Ex RSM partner Dave Mutton – another liquidator going it alone. RSM Partner Jonathan Colbran. If liquidators leave their firms to start a new venture and take none of their appointments does that indicate that a parting was less than amicable? Not necessarily is the only appropriate reply to such rhetorical gambits but the thought occurred to iNO – as such malignancies tend to –…
Farshad Amirbeaggi. Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. A liquidator’s estimate of a return to creditors of between 51 cents and 100 cents in the dollar may have been imperilled after attempts to appoint a receiver to sell a luxury property in Bali were rejected by the courts. In failing to have a receiver appointed Hayes Advisory principal and liquidator of Sirrah…
RSM’s Frank Lo Pilato. RSM partner Frank Lo Pilato has had to take a haircut on his fees and expenses on the liquidation of Circular Quay Restaurants Pty Limited after an absence of funders forced him to settle on pauper’s terms with the family of corrupt former Labor politician Eddie Obeid. As was revealed in the NSW Supreme Court on Monday, Pilato agreed to the…