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…
McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Federal Court judge Michael Lee might have refused Westpac’s bid to have a third McGrathNicol partner appointed as a provisional liquidator to three Forum corporate entities on the basis that with charge out rates of $847 per hour two is sufficient, but as we all know, resistance is futile. When creditors of the 25 or so Forum group companies…
iNO Priority RRI Advisory’s Trajan “John” Kukulovski. RRI Advisory’s Liam Bellamy. Noses appear to be out of joint in the Chan & Naylor family, with iNO learning that the mid-tier accountancy is looking elsewhere for insolvency services after its existing go to liquidators – Liam Bellamy and Trajan “John” Kukulovski – parted company with Chan & Naylor principals Ed Chan and Peter Ristevski. The rumours…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. A judge has added a lick of Bitrex to the unpalatable pill Richard Albarran and Richard Lawrence are being forced to stomach after creditors removed them as voluntary administers (VAs) of Bluechain Pty Ltd. Last Thursday Justice Jim Delaney of the Supreme Court of Victoria ordered that the Hall Chadwick pair pay the costs of an application…
Grant Thornton’s Phil Campbell-Wilson. On the Sabbath the director gaveth, and on the Monday a judge tooketh away, though not before querying what he perceived as a lack of “professional skepticism” exhibited by one of Grant Thornton’s top insolvency and restructuring partners. The occasion was an application to adjourn a winding up hearing launched by the very recently appointed voluntary administrators (VAs) of Ming Tian…
Alleged fraudster Bill Papas is COVID positive and languishing in Athens a court heard yesterday, which might explain why Westpac Bank – which would love to ask the Forum Group founder about its missing $300 million – spent much of the afternoon monstering Domenic Calabretta and two of his Mackay Goodwin colleagues in regard to their role as voluntary administrators (VA) of 30 Forum Group entities.
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McGrathNicol chairman Jason Preston. McGrathNicol partner Jason Ireland. It’s likely to be one of the highest profile appointments of 2021 so it was no surprise that when Westpac approached the Federal Court last week seeking to have provisional liquidators appointed to Forum Finance Pty Limited (Forum), Justice Michael Lee found himself presented with aspiring appointees from two of Australia’s most prominent insolvency firms. Westpac wanted…