Duff & Phelps’ Marcus Ayres. BDO’s Andrew Sallway. It’s not quite a choses in action at 10 paces but a receiver and a liquidator have agreed that no debt proof adjudication will resolve this particular brouhaha. The dispute involves related entities Business Finance Pty Ltd and Partner Invest, which the NSW Supreme Court yesterday heard were in the non-bank lending space. “… he is a…
Tauro Capital director Simon Ward. Hall Chadwick’s Richard Lawrence. Creditors of Simon Ward’s failed start-up accelerator Tauro Capital have received a potential reprieve with liquidator Richard Lawrence advising that next Monday’s meeting to vote on Ward’s Spartan compromise would be adjourned. ” … additional information and documentation has been provided to my office since the Reports were issued to creditors and this information indicates potential…
Emu Group liquidator Andre Lakomy. Cor Cordis partner Alan Walker. When you and your colleague are appointed voluntary administrators (VA) and neglect to send the first circular to the company’s potentially largest creditor, regrettable consequences can follow. For Cor Cordis duo Andre Lakomy and Alan Walker, those consequences have yet to manifest, though it may only be a matter of time before they are ousted…
Liquidator Schon Condon. A dispute in respect of fees and disbursements has descended to the point where payments over which a liquidator claims a lien are getting the Scott Schedule treatment. The accounting equivalent of death by a thousand cuts, the Scott Schedule will involve a spreadsheet savant undertaking painstaking and pedantic analysis of liquidator Schon Condon’s WIP reports for Azmac Pty Ltd (In Liq)….
Hall Chadwick’s Richard Lawrence. Every pandemic has a silver lining and Hall Chadwick’s Richard Lawrence and Richard Albarran may see an advantage in the fact that meetings are being held remotely as they prepare to put a controversial debt compromise to creditors of failed start-up accelerator Tauro Capital. Since their appointment Lawrence has identified almost $1.6 million borrowed from Tauro by sole director Simon Ward…
KPMG’s Steve Parbery. “At long last my work here is done”. With such words might Steve Parbery have filed his Form 505 last week, formalising completion of his role as special purpose liquidator (SPL) of Queensland Nickel (QN). In practice, Parbery’s role ended in August last year after he secured a settlement with Clive Palmer, the colourful minerals identity who controls QN’s Yabulu nickel refinery…
Pitcher Partners’ Gess Rambaldi. Pitcher Partners’ Andrew Yeo. Pitchers Partners’ Andrew Yeo and Gess Rambaldi have extricated an unlikely victory over the Deputy Comissioner of Taxation (DCoT) in respect of payments made by a company subject to a deed of company arrangement (DoCA). As is revealed in Yeo, in the matter of Ready Kit Cabinets Pty Ltd (in liq) v Deputy Commissioner of Taxation [2020]…
KPMG’s Peter Gothard. KPMG’s Peter Gothard has helped push a court to explicitly define the powers of liquidators in respect of claims of legal professional privilege and the outcome will not have pleased the non-executive directors (NEDs) of failed education provider Vocation Limited. In Whittenbury v Vocation Limited (No 2) [2020] FCA 653 Federal Court judge John Middleton last week ruled that Vocation’s NEDs have…
dVT’s David Solomons dVT’s Riad Tayeh Stat demands, divorcees and former business partners now rivals in the Northern Territory’s child care sector? The question here is what could possibly go right. Sydney liquidators David Solomons and Riad Tayeh might well be wondering the same, after a Judge of the Queensland Supreme Court found that liquidators don’t have to have acted unreasonably before they can be…
Cor Cordis partner Alan Walker. Hall Chadwick’s Richard Albarran. From iNO’s perspective, one of the fundamental flaws in the deed of company arrangement (DoCAs) concept is that control of the company returns to the same person or persons who ran the company into the ground in the first place. Por que? In the matter of Antqip Hire Pty Limited (subject to deed of company arrangement)…