Accountants

Erskine giving examinees the hot and cold treatment

Brooke Bird’s Robyn Erskine. The temperature in Federal Court 19B went from too hot to too cold between last Friday and Monday this week but for the examinees summonsed to appear by liquidator Robyn Erskine, the chill did little to improve their recall. Central to the Brooke Bird principal’s investigation into North Shore Property Developments Pty Ltd are events that go back to 2014 but…


Ex-staff flung under the bus as bosses get grilled

Struck-off liquidator David Iannuzzi. Former Veritas Advisory director Steve Naidenov. The public examination conducted by Brooke Bird’s Robyn Erskine over the last month has been instructive on multiple levels. For a start, it’s put ex-liquidator David Iannuzzi in the witness box for the second time in as many months. That’s an ordeal Iannuzzi might have thought he’d avoided when in November last year Federal Court…


Arrest threat for alleged phoenix mastermind

Western Sydney businessman and sometimes insolvency referrer Gino Cassaniti could face arrest after he failed to appear for public examination in the Federal Court yesterday. iNO understands a medical certificate provided by Cassaniti contained no details of the illness preventing him from attending the court to comply with the terms of his examination summons, which required his attendance yesterday and today. If he fails to…


Receiver guilty of misconduct but retains role

BPS Reconstruction & Recovery partner Simon Nelson. South-of-the-wall IP Simon Nelson has copped a finding of misconduct from a judge of the Victorian Supreme Court but has retained his position as receiver of Tomi-Sasha Holdings Pty Ltd, the former corporate trustee of the National Property Trust controlled by wealthy Melburnians Eileen and Wayne Crewes. In Re Tomi-Sasha Holdings Pty Ltd (rec and mgr apptd)(adm apptd)…


AFP arrests uncover a most helpful director

The AFP arrests this week in respect of yet another Plutus Payroll-style tax evasion scheme prompted iNO to consider, not for the first time, what aspects if any of these recurring scams are facilitated by complicit insolvency practitioners, a negligent regulator or a combination of both. Looking at the names of those arrested, it wasn’t long before our investigations led us instead to a particular…


Scott Schedule to torment Azmac secureds

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)….


Brown Baldwin gig attracts Reviewing Liquidator

IRT Advisory’s Andrew Poulter. Reviewing Liquidator Will Colwell KPMG’s Will Colwell has begun to comb through the administration of a Victorian company connected to controversial Victorian accountant Chris Baldwin after being appointed reviewing liquidator of PBDB Services Pty Ltd. Colwell, one of 15 members of ASIC’s Reviewing Liquidators’ panel, commenced scrutiny of the PBDB Services liquidation last month after being approached by ASIC in October…


Sacked liquidator tells CAANZ money was hers

Amanda Young. Former Jirsch Sutherland partner and liquidator Amanda Young has told a CAANZ disciplinary tribunal that almost $200,000 she took from liquidation accounts was owed to her. In June the Disciplinary Tribunal of Chartered Accountants Australia and New Zealand (CAANZ) heard the application of the association’s Professional Conduct Committee (PCC) for an interim suspension of Young’s membership. While Young, who did not attend the…


Insolvency referrer denies backdating developer’s docs

Western Sydney accountant and insolvency referrer Gerardo “Gerry” Incollingo has denied allegations made by the Deputy Commissioner of Taxation (DCoT) that he backdated documents to help controversial property developer Charbel Demian avoid a $35 million tax and penalties bill. In Deputy Commissioner of Taxation v Advanced Holdings Pty Ltd & Ors Federal Court Judge Anna Katzmann lays out how on August 21, 2018 she made orders freezing assets controlled by Demian’s Advanced Holdings…


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