Worrells partner Simon Cathro. Brooke Bird’s Robyn Erskine. Apart from ASIC’s April 2019 Corporate Insolvency Update there’s been precious from the regulator in regards to the work of the Reviewing Liquidator’s (RevLiq) Panel, set up at the beginning of the year to give effect to the Insolvency Law Reform Act 2016 (ILRA 2016) reforms. iNO had hoped that would change this week after we sent…
Mackay Goodwin Director Grahame Ward. Image courtesy Mackay Goodwin. Internet advertising certainly generates leads but as Mackay Goodwin’s Grahame Ward discovered, leads can come with strings attached. Ward was appointed voluntary administrator (VA) of PostNet Australia Pty Ltd back on June 3 by resolution of sole director Robyn Lau. Ward’s DIRRI of June 4, 2019 reveals the appointment came via the website of the Mackay…
Sean Wengel of William Buck NSW. When a court orders receivers’ fees be capped at $30,000 and they subsequently bill for $200,000, you know something somewhere has gone way way wrong. In the matter of Shanmugathaas & Anor v Paramanirupan & Ors [2019] NSWSC 1219 we may be seeing another example of how the new powers bestowed upon creditors by ILRA 2016 will sometimes generate…
CRS Warner principal Anthony Warner Insolvency Experts’ principal Steve Kugel. It’s almost right on five years since they split but Anthony Warner and Steve Kugel remain locked in litigation over the proceeds of their partnership, which was dissolved in spirits of acrimony in 2014. The latest round in this battle has Warner appealing the October 2018 judgment of Justice Guy Parker, who found that the…
Advertorial AIIP president Stephen Hathway. The Association of Independent Insolvency Practitioners (AIIP) is on a recruitment drive. Founded in 2016 the not-for-profit currently has more than 160 members and is looking to open its collective network to a larger proportion of the only IPs it accepts as members- registered liquidators and trustees in bankruptcy. According to AIP President Stephen Hathway of Helm Advisory membership offers…
Bound for Ankura – Liquidator Quentin Olde. Liquidator Quentin Olde looks to be preparing to establish an Asia Pacific restructuring practice for global professional services firm Ankura after resigning earlier this year as a senior managing director at FTI Consulting. Olde, who is on gardening leave until October 1, confirmed yesterday that he had joined the US headquartered, multi-disciplinary advisory firm but otherwise declined to…
Chifley Advisory’s Gavin Moss When an insolvency practitioner accepts an appointment as voluntary administrator (VA) less than 24 hours before a winding up application is due to be heard, a casual observer might wonder what’s afoot. Yesterday iNO was moved to ponder just such whilst reading In the matter of Edifice Australia Pty Limited [2019] NSWSC 1215. Chifley Advisory’s Gavin Moss is the practitioner concerned…
Bankrupt IP Sam Henderson. The bankrupting of a former insolvency firm partner who’s worked at Jirsch Sutherland and Cor Cordis has triggered a wave of appointments, some of which have subsequently been overturned by the ATO. Samuel Henderson, who left Jirsch Sutherland in 2013 and then spent time at Cor Cordis before going out on his own, was bankrupted on Thursday, August 29, 2019 on…
Liquidator David Iannuzzi. The Federal Court has ordered ASIC reinstate companies deregistered by David Nicholas Iannuzzi, the Sydney-based liquidator facing a 10 year ban after the Commissioner of Taxation (CoT) applied in 2017 for a judicial inquiry into his conduct. Justice Angus Stewart made the orders on Monday September 2, 2019, further ordering that KPMG’s Gayle Dickerson and Stephen Vaughan be appointed liquidators of the…
Shaun McKinnon: Goodbye Grant Thornton, hello BDO. As revealed by iNO last month, Shaun McKinnon has joined BDO after more than seven years at Grant Thornton. Confirming the move this week BDO national head of restructuring Andrew Fielding said McKinnon had joined “as a new advisory partner in the firm’s Brisbane office, specialising in providing Corporate Finance and Restructuring services with a focus on the…