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…
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)…
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…
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)….
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…
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…
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…
Well-established boutique insolvency practice located in Melbourne’s CBD is seeking an experienced insolvency supervisor or junior manager. To be successful in this role, you will need: A degree in accounting/commerce/law; CA/ CPA Qualified, ARITA certification advantageous; 5+ years’ experience in a similar role within a professional practice in Australia; A sound working knowledge of the insolvency market and relevant legislation; Knowledge of best practice and…
It might not have been around as long as God and the Devil but for genuine enmity can any rivalry match the hellfire-eclipsing friction generated when insolvency practitioners go auditors? In this particular chapter of the eternal struggle, Ferrier Hodgson’s Peter Gothard and Jim Stewart have finally taken the tridents to Moore Stephens’ Elizabeth Perez and Jeff Matchett, auditors of Payless Shoes. We say finally because the Ferriers duo…
2017 is done, the numbers have come in and names of note appear among those firms that snared the lion’s share of external administrations (exad) in the year just gone. According to a table of top performers assembled by lawyer Bruce Pasetti’s Stratos Legal, the firm that scooped the largest number of voluntary administrations (VAs) in NSW last year was Domenic Calabretta’s Mackay Goodwin, which notched up…