Riad Tayeh came within a whisker of a plumb provisional liquidators role yesterday but Steve Parbery and Glenn Livingstone pipped the dVT Group principal at the post. Although late comers, the PPB Advisory pair also vaulted over five others lined up with consents to act as provisional liquidators of NR Wolli Creek, which ANZ placed into receivership in June 2015. The five were EY’s Marcus Ayres and Brett Lord,…
Worrells’ South Australia duo Nick Cooper and Dominic Cantone are preparing for a bare knuckle brawl with Adelaide Brighton Concrete Limited (ABCL) over their endorsement of a Deed of Company Arrangement (DoCA) that is not to the liking of the construction materials behemoth. Cooper and Cantone became deed administrators of the DoCA just before Christmas last year after a brief stint as voluntary administrators (VAs) of ABCL…
As PPB Advisory’s Glenn Livingstone and Steve Parbery look on in their capacity as provisional liquidators of Synep Pty Ltd, one of the men accused of involvement in Australia’s largest company tax fraud has shown himself to be an optimist if nothing else, having commenced legal action in the Federal Court against the provider of his directors and officers (D&O) insurance policy. Jay Onley, who…
In the space of a few weeks in March Australia’s courts have delivered three verdicts that will only embolden the zealous litigators of the Department of Employment’s FEG Recovery Unit, who could hardly have been accused of timidity prior to the fortuitous trifecta of appellant outcomes so recently handed down. The chest thumping would’ve been longest and loudest on Wednesday evening this week after a Full…
We can’t be certain at this early stage of our Sinvestigation but the recent move by the Deputy Commissioner of Taxation (DCoT) on the incumbent liquidators of Italian Prestige Jewellery bears a passing resemblance to the DCoT’s GST-avoidance case against ABC Refinery. Orders handed down by Justice Brigitte Markovic yesterday in the Federal Court reveal that the DCoT has applied to have “proposed additional liquidators”…
If the former receivers of Hastie Services continue resisting Henry Carr and his FEG Recovery Team to the point where their dispute goes to hearing then the insolvency profession at large might derive some benefit, at least in terms of clarity on currently clouded questions as to costs. (Apologies for the absence of an alliteration alert). Carr and his recovery team are adamant that the…
PPB Advisory’s lengthy association with the troubled Neolido Holdings ended yesterday and so complete was the severance that the top tier firm was denied even its preferred choice of replacement liquidators. As SiN reported in Collateral Damage: Sparks To Resign From Neolido PPBA partner Grant Sparks applied last week to resign as liquidator of Neolido Holdings in the wake of the misappropriation allegations levelled at his former…
Trawling the Supreme Court of Queensland website might not sound a rewarding practice but it’s one way to keep abreast of the continuously evolving story around ex-PPB Advisory partner David Leigh and the $800,000 he allegedly misappropriated from the liquidation account of Neolido Holdings. As SiN recently commented, the circumstances around the misappropriation meant it was always going to be difficult for Neolido’s joint appointee…
Seems that when a liquidator is being pursued for costs by a lawyer in a local court, trying to resolve the issues via the costs assessment process is not going to fly, at least not according to NSW Supreme Court judge Francois Kunc. WKA Legal Pty Ltd v Gleeson [2018] NSWSC 318 details how liquidator and Jones Partners principal Bruce Gleeson has for several years been at…
Well we are in for a suspenseful weekend but SiN has it on exemplary authority that Jirsch Sutherland’s Brisbane office and Ginette Muller’s GM Advisory are on the cusp of merging. A source close to the talks said that barring any complications the deal is set to be inked on Monday, March 19. Assuming it proceeds Muller will very soon be reunited with her old underling from…