Romanis Cant’s Tony Cant. Romanis Cant principal Tony Cant has fended off an application brought by a creditor seeking his removal as liquidator of Foodcorp (Vic) Pty Ltd but only it would seem, by the skin of his teeth. The judgment of Federal Court Judge Neil McKerracher in Sands Contracting Pty Ltd v Foodcorp (VIC) Pty Ltd [2020] FCA 1274 outlines the dismal imbroglio of…
Advertorial Condon Advisory Group’s Schon Condon. Michael Royal: spearheading Condon Advisory Group’s Melbourne move. Sydney insolvency firm Condon Advisory Group (CAG) is demonstrating some entrepreneurial grit with an expansion into Victoria through an arrangement with Melbourne-based practitioner Michael Royal. “In order to service the growing number of Victorian businesses suffering during recent times, CAG will be expanding its operation by opening an office in Melbourne…
Aston Chace’s Ian Niccol. Aston Chace’s Vincent Pirina. A court has heard that the coffers of failed online travel agency Fly365 were “flush with cash” only days before the company was placed into liquidation, plunging the travel plans of thousands into chaos and leaving creditors chasing up to $30 million in debts. The revelations emerged during an ex-parte application in the Federal Court yesterday brought…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Blair Pleash. We’re sure Vannin Capital is a successful player in the oft-times lucrative litigation funding space but two insolvency-based bets it’s made in Queensland have proved troublesome. Little mystery can attach to why bankrolling the general purpose liquidators (GPLs) of Queensland Nickel in litigation involving the company’s former director Clive Palmer hasn’t gone to plan. Palmer could probably…
KPMG’s Martin Jones. KPMG’s Andrew Smith. There’s an intriguing stoush simmering away in Fortress West Australia where the corporate regulator has urgently intervened in an application by two KPMG restructuring partners in respect of remuneration. The fun began on February 1, 2019 when then Ferrier Hodgson Perth partner and liquidator Martin Jones filed an originating process and supporting documentation with the West Australian Supreme Court. …
BRI Ferrier’s James Koutsokos. BRI Ferrier’s David Coyne. BRI Ferrier’s James Koutsoukos and David Coyne have extracted some hard won joy from the Supreme Court of Victoria in their ongoing battle with a Japanese beverage can manufacturer over remuneration. In Re Barokes Pty Ltd (in liq) [2020] VSC 555 Associate Justice of Victoria’s Supreme Court Julian Hetyey this week sided with the liquidators in their…
Receiver David Whyte. FTI Consulting’s John Park. Who would’ve thought insolvency might be seen to resemble Socialism, at least as it was characterised by the late Baroness Thatcher when alluding to collectivism’s fatal fiscal flaw? Not iNO that’s for sure. But In LM Investment Management Ltd (receiver apptd) (in liq) v Drake & Ors [2020] QSC 265 (28 August 2020) Justice Peter Callaghan of the…
The Oracle Insolvncy Services partnership from left to right: Dominic Cantone, Yulia Petrenko and Nick Cooper. It was little more than six years ago that Worrells trumpeted its arrival in South Australia via the recruitment of an ambitious liquidator by the name of Nick Cooper. Cooper had been lured from the BRI Ferrier SA practice headed by Alan Scott and Andre Strazdins, which itself had…
Pitcher Partners’ Bryan Hughes. Pitcher Partners’ Perth office nabob Bryan Hughes has come in for some stick in a judgment of the Supreme Court of Western Australia, which has rejected Hughes’ multiple claims of voidable transactions in respect of stricken developer Westgem. In what may turn out to be a costly decision for Hughes’ litigation funder IMF, Justice Paul Tottle said yesterday that the basis…
Grant Thornton’s Matt Byrnes. Grant Thornton’s Phil Campbell-Wilson. Having replaced Jirsch Sutherland’s Malcolm Howell as liquidators of AXF Group, Grant Thornton duo Matt Byrnes and Phil Campbell-Wilson now have the job of negotiating AXF Group’s related party labyrinth, and that’s without considering the attitude of Howell’s out-of-pocket backers, Claims Funding Australia (CFA). According to Howell’s last report to creditors dated August 4, the Maurice Blackburn-backed…