BPS Recovery’s Dave Sampson. Jones Partners’ Michael Jones. 04/08/2021: The creditor who spent big bankrupting pornographer Damien Costas has lodged a complaint with AFSA about Costa’s trustee and wants the regulator to set aside the vote of a creditors meeting that saw Costas’ bankruptcy annulled. Print company executive Anthony Karam, whose TMA Group had a claim against Costas for more than $170,000, filed the complaint…
Daniel Moore – BCR Advisory (Qld). Earlier this month a committee convened to determine what if any penalty should be meted out to bankruptcy trustee Daniel Moore arrived at its verdict and, appropriately, the reasons for that determination have been made public. Whilst the amiable Queenslander has been shackled with a number of restrictions, he hasn’t been stripped of his trustee’s registration. Nor has it…
Guest Article by JT Johnson, Frederick Jordan Chambers On 12 May, 2021 iNO reported in “AFSA’s “Ignorant Bureaucracy” Excoriated” comments made in Woodgate in his capacity as Deed Administrator of Onezone Pty Limited (subject to Deed of Company Arrangement) v Brown [2021] NSWSC 508, a judgment of the NSW Supreme Court. In reviewing the judgement referred to above it appears clear that the relevant judge…
Oneoz liquidator Giles Woodgate. Instructions from a faceless Australian Financial Security Authority (AFSA) staffer to a creditor who had been lawfully assigned a money judgement were “borne of ignorance” a Sydney judge has said. In Woodgate in his capacity as Deed Administrator of Oneoz Pty Ltd (subject to a deed of company arrangement) v Brown [2021] NSWSC 508 NSW Supreme Court judge Peter Garling was…
Daniel Moore – BCR Advisory (Qld). Veteran trustee and liquidator Daniel Moore has been referred to a disciplinary committee in respect of allegations he breached his statutory and fiduciary duties. The Queensland-based insolvency practitioner was referred to a disciplinary committee by the Inspector-General in Bankruptcy under part 2, schedule 2 on March 10. Moore did not respond to requests for comment but a source with…
Macks Advisory’s Peter Macks. AFSA deputy ceo Gavin McCosker Adelaide resident and insolvency practitioner Peter Macks would no doubt have anticipated this week’s announcement by the Australian Financial Security Authority (AFSA) advising that it had sent him to the naughty corner. It was less than a fortnight ago that a judge of the Supreme Court of South Australia suspended Macks’ registration as a liquidator for…
AFSA deputy ceo Gavin McCosker Australia’s trustees in bankruptcy are about to learn the detail of a proposal that would see up to 20 per cent of all files AFSA and the Official Trustee farm out to private trustees reserved for the 10 per cent who are female. iNO’s spies divulged this week that the Australian Financial Security Authority (AFSA) is preparing to seek feedback…
Louise Thomson – Bankruptcy trustee’s registration cancelled. The registration of NSW-based bankruptcy trustee Louise Thomson has been cancelled on the recommendation of a committee convened to investigate allegations of conflict of interest. In a statement issued yesterday AFSA said that in 2019 its staff had “investigated instances of misconduct that called into question Thomson’s independence, judgement and general suitability to remain registered as a trustee.”…
Pitcher Partners’ Andrew Yeo. Pitcher Partners’ Gess Rambaldi. Water rights, unending ATO audits and internet scams – Pitchers Partners duo Andrew Yeo and Gess Rambaldi have had quite a time of it in respect of the bankruptcy of Victorian dairy farmer Peter Alan Sandles, and that’s without being heavied by the Inspector General in Bankruptcy. The intriguing tale comes to us via Federal Circuit Court…
Louise Thomson: first trustee to be referred to disciplinary committee twice. Image Veritas Advisory. With apologies to Oscar Wilde, iNO was recently moved to observe that while being referred to a disciplinary committee once might be considered a misfortune, twice looks like carelessness. Certainly it will be unfortunate if it transpires that misfortune is behind AFSA’s most recent referral of Louise Thomson to a committee…