Michael Hodge QCImage: www.hiredgun.com.au The ARITA National Conference concluded yesterday after two days characterised by variety, colour and the balance of the event’s content. Interested in the emergent role of the chief restructuring officer (CRO)? None other than Mohsin “Mo” Meghji was on hand, recounting in an absorbing Q&A his experience as CRO of iconic US department store Sears Holdings and Toys ‘R’ Us. Wanting…
$400k in funding. KPMG’s Glenn Livingstone. KPMG’s Glenn Livingstone has snatched a liquidation from a voluntary administrator (VA) after a court refused to adjourn a hearing of an application to wind up special purpose property developer Cresco Opus Fund No. 4 Pty Ltd (Cresco 4). Cresco 4 was set up to develop the Ellsworth residential development at Turramurra. Despite making a stonking profit – the…
Chan & Naylor’s John Kukulovski. When we divulged last week that Jirsch Sutherland partner Liam Bellamy had defected to rival Chan & Naylor, iNO speculated that Chan & Naylor may have wanted another qualified practitioner to join its one and only Registered Liquidator, Trajan John Kukulovski. iNO thought the poaching raid might’ve been a sign Chan & Naylor was intent on being able accept joint…
Glenn Livingstone. Image courtesy Ferrier Hodgson. In the wake of the NSW Supreme Court’s recent refusal of an application seeking to replace incumbent liquidators comes another such attempt involving a builder feeling bilked by a developer with an insolvent SPV. The practitioner in the middle this time is Adam Farnsworth, who as an aside recently parted company with Adam Shepard to form Farnsworth Carson with…
Liquidator David Iannuzzi. In agreeing to be struck off the list of registered liquidators and banned from either reapplying for re-registration or working in the insolvency sector for 10 years, Veritas Advisory principal David Iannuzzi has done all he can. The rest is up to Federal Court judge Angus Stewart, who on Wednesday reserved judgment in regards to consent orders jointly proposed by Iannuzzi’s and…
Moved to Chan Naylor? Jirsch Sutherland’s Liam Bellamy. The Melbourne cohort of the Jirsch Sutherland partnership could be in the market for a fresh liquidator after the departure of Liam Bellamy, who we are reliably informed has defected to Chan Naylor. Bellamy will join John Kukulovski, another ex-member of the Jirsch Melbourne office who according to the Chan Naylor website is the firm’s National Insolvency…
Pilot Partners’ Ann Fordyce. Pilot Partners’ Nigel Markey. Almost 20 years have passed since the failure of accountancy aggregator Harts Australasia but shock waves from Steven Hart’s hubristic venture onto the ASX persist and most recently it’s Pilot Partners’ Nigel Markey and Anne Fordyce inadvertently swept up with a court ruling their appointment as receivers of a Hart-related entity was invalid. The pair were appointed…
Veritas Advisory principal David Iannuzzi. Sydney liquidator David Iannuzzi looks set to consent to orders this morning that will see him stripped of his liquidator’s registration and rubbed out of insolvency for 10 years. At an interlocutory hearing on Monday, counsel for Iannuzzi and the Commissioner of Taxation (CoT) jointly told Federal Court Judge Angus Stewart that they had an “agreed statement of facts” (SoFac)…
Jirsch Sutherland partner Trent Devine. Jirsch Sutherland managing partner Bradd Morelli. The liquidators of FW Projects will be feeling mighty relieved after a judge yesterday threw out an application seeking to replace the Jirsch Sutherland duo on the basis of bias. In dismissing the application of builder Hindmarsh Construction Australia (HCA) NSW Supreme Court Judge Ashley Black found In the matter of FW Projects Pty…
Pitcher Partners’ Roberto Crispino. Pitcher Partners Chris Parissis. Anonymous letters circulating, union cages rattling, staff seeing shrinks, experienced operators ousted and underlings elevated – just another day for the Melbourne branch of the ATO’s Significant Debt Management (SDM) Division it seems as INO uncorks this bottler of a yarn, the first sip of which blends the curious departure of SDM Director Aris Zafiriou with the…