Approved and funded to pursue: SPL Giles Woodgate. Sydney liquidator Giles Woodgate has won backing to pursue dVT Consulting duo Suelen McCallum and Riad Tayeh for possible breach of contract or negligence. In the matter of ACN 152 546 453 Pty Ltd (Formerly Hemisphere Technologies Pty Ltd (In Liq)) [2020] NSWSC 270 NSW Supreme court judge Arthur Emmett this week agreed to extend Woodgate’s powers…
McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Ankura senior managing director Quentin Olde. While the extent of the impact on business of the COVID-19 pandemic remains unknown, what is certain is that Australia’s nascent safe harbour regime and the capacities of our insolvency firms are set to be tested like never before. Restructuring practitioners contacted this week confirmed they were fielding more enquiries from company directors…
FEG Recovery Unit Director Henry Carr. The Commonwealth is coming and in hindsight the mass of request for information letters sent to registered liquidators (RegLiqs) recently by the FEG Recovery Unit should not surprise. Once FEG’s view on corporate trustees and circulating assets was vindicated by the High Court, as it was last June in: Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth…
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…
Royal Commission assisting counsel Michael Hodges QC. SEERS restructuring chief Mohsin Meghji. Advertorial Issues of import, insiders speaking frankly and in-depth, explorations of emergent trends by experts from inside the tent – this is a sample of what awaits those attending ARITA’s 2019 National Conference, scheduled to take place in Melbourne next month. For the offshore restructuring buffs (and who isn’t?) organisers have a particular…
You have been warned. Displaying ARITA’s logo is a no no. In a strongly worded message to members this week the Australian Restructuring Insolvency & Turnaround Association (ARITA) took aim at firms who had clearly been operating under the misapprehension that being a member of the national body entitled that member or members to use ARITA’s logo as they saw fit. “While we encourage members to…
From a purely superficial perspective, the most significant takeaway from ARITA’s 25th national conference was the delegate satchel, a cunningly fashioned navy blue holdall which resembled a gym bag but accommodated all the merch fit to pinch from this most sedentary of industry events. From the perspectives of knowledge and of insight, elevating one moment among the many over the two days is not so straightforward….
Industry has been quick to respond to the draft reforms Treasury released in August aimed at more effectively combatting illegal phoenix activity and the verdict from the two key bodies is mixed. Both the Australian Restructuring, Insolvency & Turnaround Association (ARITA) and the Australian Institute of Credit Management (AICM) lodged submissions to the draft reforms on September 28, 2018. The thrust of the submissions is that…
It didn’t take long for ARITA to dismiss the complaints made about member and KordaMentha partner Rahul Goyal. As we reported last week in Tiaro Coal Creditors Gunning For Goyal various individuals connected to Tiaro Coal’s major creditor the Hudson Investment Group complained to ARITA about Goyal’s conduct on the administration. They alleged he was in cahoots with a major creditor with which KordaMentha has a referral relationship…
Advertorial ARITA’s national conference later this month is likely to be a barometer of the prevailing pre-occupations among an insolvency and restructuring profession fighting headwinds in pursuit of opportunity. Technology, law reform, the economy and corporate culture. ARITA has homed in on the issues which represent both challenge and opportunity and assembled some of the best qualified to explore the risks and rewards attaching to…