Sydney liquidator Greg Parker has been handed a potential migraine after a judge ordered ASIC to reinstate two companies wound up by Parker and subsequently deregistered in 2016 and 2019. The companies – Worldwide Speciality Property Services Pty Ltd (WSPS) and Serif Pty Ltd (Serif) – between them controlled a suite of patents lodged in the US. Those patents have since expired and the companies’…
KPMG’s Gayle Dickerson. KPMG’s Stephen Vaughan. KPMG’s Gayle Dickerson and Stephen Vaughan must have strained shoulders shrugging off Gino Cassaniti’s no shows after the western Sydney businessman again failed to appear for public examination (PE) in relation to RC Group (Aust) Pty Ltd (RC Group). Cassaniti’s non-attendance meant the scheduled PE by senior counsel Tony McInerny SC had to be abandoned. Unlike the previous week…
FTI Consulting’s John Park. LMIML receiver David Whyte. If recently retired BDO partner David Whyte ever thought the finalisation of his work as receiver of LM Investment Management Limited (LMIML) would be uneventful, then FTI Consulting’s John Park has well and truly disabused him of that notion. In recent months Park has, as liquidator of LMIML, challenged Whyte’s remuneration claims, with the most recent challenge…
Veritas Advisory’s David Iannuzzi. Veritas Advisory principal David Iannuzzi was never going to suffer iNO reporting on his public examination into the affairs of RC Group Aust Pty Ltd (RC Group) without objection it seems but the Federal Court has ruled that this was a stoush the ex-liquidator couldn’t win. On Monday Federal Court Registrar Susan O’Connor advised the parties that she had refused to…
In: PKF’s Paul Allen. Out: Hall Chadwick’s Richard Lawrence. The torment endured by Hall Chadwick pair Richard Lawrence and Richard Albarran these last 18 months came to an end this week when creditors of Tauro Capital (In Liq) turfed them out to make way for Paul Allen and Jason Stone from PKF. iNO’s agents in Melbourne reported that Tauro creditors, some of whom had been…
Meerten Charted Accountants founder Austin Taylor. Duncan Powell’s Stephen Duncan. Maybe they have long memories down in South Australia? iNO doesn’t know. We didn’t stay. But locals like Austin Taylor of Meertens Chartered Accountants would appear to at least be willing to go way back if the revelations contained in Taylor (liquidator) v Trustee, bankrupt estate of Heading, in the matter of Heading [2020] FCA…
Sivaa Consulting’s latest number crunching exercise landed on iNO’s desk this week and its focus on FY 2020 VA to DoCA conversion rates is well timed. The insolvency profession is breathlessly awaiting details in respect of the brave new restructuring regime being proposed by the Federal Government. It’s a regime which is itself a response to the economic value destruction wrought by governments state and…
Western Sydney businessman and sometimes insolvency referrer Gino Cassaniti could face arrest after he failed to appear for public examination in the Federal Court yesterday. iNO understands a medical certificate provided by Cassaniti contained no details of the illness preventing him from attending the court to comply with the terms of his examination summons, which required his attendance yesterday and today. If he fails to…
Heading to FTI? Chris Hill. Restructuring gun Chris Hill was reportedly “miserable” at PwC and jumped to FTI Consulting after being conflicted out of a shot at Virgin sayeth the insolvency sector grapevine, which iNO yesterday pruned assiduously for insights, straight answers from Hill or FTI Australia practice leader Mark Dewar being yet to fruit. The move was reported in the AFR’s Street Talk column…
Hall Chadwick’s Steve Gladman. Hall Chadwick’s Richard Albarran. Hall Chadwick partners Steve Gladman, Richard Albarran and David Ross have lodged no shortage of DIRRIs these past seven months in a bid to clarify the extent of their involvement with Pacific Biotechnologies Ltd (PacBiotech). Given that that involvement extends from an engagement as investigating accountants in February to acting as fully funded deed administrators presently, five…