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…
iNO Opinion ARITA chief executive John Winter AIIP president Stephen Hathway. “I’ve lost three staff because they weren’t prepared to get vaccinated,” the principal of a small Sydney CBD-based insolvency firm lamented during a conversation with iNO this week. Three staff. In a small practice that’s not so much a bump in the road. That’s a sinkhole under a city block. According to the teller…
McGrathNicol partner Robyn McKern. Grant Thornton’s Said Jahani. If dignified crowing is heard during the next McGrathNicol zoom meeting of partners iNO won’t be surprised. It’s not every day that a forensic accountant has their sums validated by a Federal Court judge. “The referee concluded that the group of companies was insolvent from 31 January 2017 and thereafter. That is in contradistinction to the opinion…
You’d think that engineering 100 cents in the dollar for creditors plus a surplus might get you a little leeway when it comes to a remuneration determination for an extra $10k but as Brett Harrison recently discovered, that’d be no. The Hobart-based trustee in bankruptcy, having completed all relevant tasks in respect of the estate of one Marianne Rose Beck, went to the Federal Circuit…
Deloitte partner Robert Woods. Cor Cordis partner Daniel Juratowitch. iNO has rarely read a decision where so many irregularities have been forgiven on the way to ruling in favour of an appellant seeking to terminate a winding up. Yet in Re The Thoroughbred Consultants Pty Ltd [2021] VSC 627 we have detailed reasons why Supreme Court of Victoria judge Michael Osborne decided that a winding…
A potentially prestigious and professionally rewarding bankruptcy appointment could be imminent after the Federal Court published details of freezing orders in respect of claims totalling almost $110 million being pursued by the Deputy Commissioner of Taxation (DCoT) against Queensland property developer James Raptis. Raptis, who is Queensland’s honorary consul for Greece, was one of the state’s biggest property developers until the 2009 global credit crunch…