Bankruptcy

Liquidator bankrupted over $5.4 million debt

dVT Group co-founder Riad Tayeh PCI Partners Stephen Michell. dVT Group co-founder Riad Tayeh was yesterday bankrupted by order of the Federal Circuit and Family Court over a $5.4 million debt owed to the creditors of Timbercorp Finance. The 58 year old liquidator from Sydney’s west has spent more than a decade . . . Restricted Content Dear Reader, this story is available only to…

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Trustee goes halfway in correcting judge

Telling an insolvency practitioner their application for additional remuneration is “misconceived” is like telling Bill Shorten his plan for getting the ALP into power would work if only the plan’s primary beneficiary wasn’t himself. Red rags ain’t in it. So when an eminence of the Federal Circuit Court in Tasmania told trustee Brett Harrison that his application for a modest sum of future additional remuneration…