Simon Cathro of Cathro & Partners. For former Worrells partner Simon Cathro, the worst of times might also be the best of times to pursue his ambition to found and grow his own insolvency firm. A 25 year veteran of the sector who’s career includes stints with Hall Chadwick, PwC, Deloitte and EY before he arrived at Worrells in 2015, Cathro told iNO yesterday that…
Online News Corporation’s Jarrod Sierocki. Insolvency practitioners tend to have well honed instincts for an opportunity but iNO can only wonder what Hall Chadwick’s Ginette Muller and Insolvency Guardian’s Jarrod Sierocki have identified that’s convinced them to invest in the digital media space. Along with Sydney-based publicity veteran Rolene Markson, Muller and Sierocki are, iNO has learned, in the process of fund raising for Online…
Grant Thornton’s Phil Campbell-Wilson. Long shots in the insolvency caper can be costly. Just ask the two Grant Thornton partners who sought the adjournment of a hearing of a winding up application on the day the winding up application was potentially to be heard. The reason for this heroic and 59th minute of an 11th hour intervention was simple. Phil Cambell-Wilson and John McInerney had…
Jirsch Sutherland partners Bradd Morelli and Trent Devine are for the second time in two years facing the possibility of being sidelined by a special purpose liquidator (SPL) in respect of the liquidation of developer FW Projects Pty Ltd. The first time creditors took aim at the Jirsch pair, who were appointed general purpose liquidators (GPLs) of FW Projects back in April 2019, an application…
BPS Recovery’s Dave Sampson. Jones Partners’ Michael Jones. 04/08/2021: The creditor who spent big bankrupting pornographer Damien Costas has lodged a complaint with AFSA about Costa’s trustee and wants the regulator to set aside the vote of a creditors meeting that saw Costas’ bankruptcy annulled. Print company executive Anthony Karam, whose TMA Group had a claim against Costas for more than $170,000, filed the complaint…
BPS Recovery’s Dave Hurst. BPS Recovery’s Dave Sampson. 04/08/2021: If only validity were in the eye of the appointor. For two Hall Chadwick partners appointed receivers of The Gosford Pty Ltd, a two buck shell with a tenuous grip on a contested asset, the validity of their appointor’s security has not withstood a rival’s challenge, leaving the pair gazumped and shunted to the queue’s rear….
Aston Chace’s Vincent Pirina. Aston Chace co-founder Steve Naidenov. Sometimes it doesn’t matter how well an insolvency practitioner does his or her job. If a creditor wants them out, they’ll find something in an appointee’s conduct to utilise as a basis to attack. Like a settlement that appears generous. In the case of Aston Chace partners Vincent Pirina and Steve Naidenov, the deed administrators of…
Daniel Moore – BCR Advisory (Qld). Earlier this month a committee convened to determine what if any penalty should be meted out to bankruptcy trustee Daniel Moore arrived at its verdict and, appropriately, the reasons for that determination have been made public. Whilst the amiable Queenslander has been shackled with a number of restrictions, he hasn’t been stripped of his trustee’s registration. Nor has it…
KPMG’s Will Colwell. KPMG’s Tim Michael. When a secured creditor funding deed administrators gets told that the $250,000 it handed over to fund a section 444GA application is insufficient because the deed administrators’ costs have absorbed it, well, you can imagine that the relationship might become a little strained. Certainly it could be expected that an at least temporary chill descended in respect of exchanges…
iNO Priority Cor Cordis partner Barry Wight. Cor Cordis partner Rachel Burdett. It may be an unspoken maxim that fee approvals coming from creditors are the best approvals but if there is an example of an exception proving a rule superior to that which was recently granted to a pair of Cor Cordis partners iNO would like to hear of it. The occasion for this…