Bankruptcy

The vicissitudes of van der Velde priced at $300,000

SV Partners managing director Terry van der Velde. SV Partners boss Terry van der Velde would’ve known it was coming but it seems a costs order of $298,898.49 is a sum even a successful mid-tier insolvency chieftain can’t effortlessly cajole from one’s indemnity insurer. van der Velde’s vicissitudes were made manifest on August 12 by Federal Court Registrar Tom Morgan, who determined that a previous…

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Colourful creditors claim big in Henderson bankruptcy

Bankrupt and owing $26 million Sam Henderson. Insolvency practitioners presumably apply an exacting rigour to the management of their own financial affairs so your correspondent’s eyebrows headed for the stratosphere last week when we learned that bankrupt insolvency practitioner Sam Henderson apparently owes his creditors almost $26 million. The outlandish figure – the $26 mil, not Henderson – was contained in the first report to…