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Articles by Peter Gosnell

ASIC, ATO, Creditors, VA's & DoCA's 25 September 2020

KordaMentha duo face inquiry bid over Seafolly

KordaMentha’s Scott Langdon. KordaMentha’s Rahul Goyal. KordaMentha’s Rahul Goyal and Scott Langdon may be forced to defend elements of their handling of the Seafolly administration and possibly delay paying a first dividend after five Chinese corporate creditors of the COVID-crippled swimwear outfit yesterday applied for an injunction in the NSW Supreme Court. Lawyers representing the Seafolly Five appeared before Justice Ashley Black ex-parte seeking to…

ASIC, Social/Professional, Talent Transfer 25 September 2020

ASIC reshuffle loads up Eszenyi with auditors

ASIC’s top liquidator cop Thea Eszenyi now policing auditors too. Some iNO readers will be aware that there’s been a great of shuffling of senior roles over at the Australian Securities and Investments Commission (ASIC) of late, and while most of what little media attention there has been has focussed on the implications for ASIC’s most senior regulators, Thea Eszenyi, who is responsible the regulation…

ASIC, Conflict, Corporates, Creditors, Directors, DIRRIs, Lawyers, Liquidations, Liquidators, Social/Professional 23 September 2020

Weston V Cathro over 2nd bite of South Pelagic

DW Advisory’s Paul Weston. Worrells partner Simon Cathro. DW Advisory’s Paul Weston is demonstrating an optimistic streak of generous width, putting his hand up to replace the man who replaced him little more six months ago. Weston, who did not respond to inquiries prior to iNO’s deadline, has been given the chance to takeover as liquidator of South Pelagic Holdings Pty Ltd. That opportunity has…

ARITA, Conduct, Deals & Departures, Discipline, Liquidators, Social/Professional 23 September 2020

ARITA expels member Steve Naidenov

Expelled from ARITA – Aston Chace principal Steve Naidenov. Aston Chace principal Steve Naidenov has been expelled from ARITA after failing to provide responses that the peak insolvency and restructuring organisation found satisfactory. In a short statement published this morning ARITA said Naidenov’s membership was terminated yesterday after he failed “…to provide a reasonable response to ARITA’s inquiries regarding his conduct in relation to a…

Directors, Liquidations, Liquidators, Public Examinations 23 September 2020

de Jong Read chief examined by McGrathNicol

McGrathNicol’s Anthony Connelly. de Jonge Read founder and executive director Henry ‘Hank’ de Jonge. Hank de Jonge, founder of self-declared insolvency specialists de Jonge Read, is among a group of de Jonge Read staff and former staff questioned during public examinations conducted earlier this month by the liquidator of Harker Accounting. In addition to the firm founder, executive director Ashley Shield, strategist Darren Addison, strategy…

Accountants, Conduct, Directors, Judgment, Receivership, VA's & DoCA's 18 September 2020

Receiver guilty of misconduct but retains role

BPS Reconstruction & Recovery partner Simon Nelson. South-of-the-wall IP Simon Nelson has copped a finding of misconduct from a judge of the Victorian Supreme Court but has retained his position as receiver of Tomi-Sasha Holdings Pty Ltd, the former corporate trustee of the National Property Trust controlled by wealthy Melburnians Eileen and Wayne Crewes. In Re Tomi-Sasha Holdings Pty Ltd (rec and mgr apptd)(adm apptd)…

ATO, Deals & Departures, Judgment, Lawyers, Liquidations, Liquidators, Social/Professional 18 September 2020

Deed of Assignment a first for Deputy Commissioner

Minter Ellison’s Michael Hughes. Told the court he had been advised the deed of assignment with the Deputy Commissioner of Taxation was a first. Firsts are generally worth a mention and Sydney liquidator Steve Nicols has reportedly chalked up such a milestone by entering into a deed of assignment that transfers a cause of action in the winding up of Anatax Pty Ltd to the…

Corporates, Directors, Liquidations, Liquidators, Litigation, Public Examinations, Receivership, VA's & DoCA's 16 September 2020

Sargon receivers embroiled in Federal Court disputes

McGrathNicol’s Shaun Fraser. The receivers of various Sargon Group entities and their appointors are allegedly “embroiled” in two disputes in the Federal Court”, a court heard this week. The claim was made on Monday in the NSW Supreme Court by lawyers for one set of receivers – PwC’s Chris Hill and Dan Walley – in their capacity as receivers of SC Australian Holdings 1 Pty…

Costs, Creditors, Judgment, Liquidators, VA's & DoCA's 16 September 2020

Cor Cordis pair’s bold lunge for costs restrained

Emu Group liquidator Andre Lakomy. Cor Cordis’s Alan Walker. iNO generally concurs with the approach that when one stumbles at the start it’s best to decry humility in favour of a bold lunge, one aimed at re-establishing primacy in the administration of an entity’s affairs.  Unfortunately for the applicant liquidators in In the matter of Emu Group Pty Ltd (in liq) (No 2) [2020] NSWSC…

Bankruptcy, Costs, Judgment, Social/Professional, Trustees 11 September 2020

The vicissitudes of van der Velde priced at $300,000

SV Partners managing director Terry van der Velde. SV Partners boss Terry van der Velde would’ve known it was coming but it seems a costs order of $298,898.49 is a sum even a successful mid-tier insolvency chieftain can’t effortlessly cajole from one’s indemnity insurer. van der Velde’s vicissitudes were made manifest on August 12 by Federal Court Registrar Tom Morgan, who determined that a previous…