PwC’s Andrew Scott. O’Brien Palmer’s Liam Bailey. One has to wonder if Sydney lawyers Steve Polczynski and Dajana Malnersic have something against registered liquidator and trustee in bankruptcy Liam Bailey? The latter is an experienced practitioner, well founded in the skills necessary to act on either corporate or personal insolvency appointments. ” … on the applicant’s case, there is a surfeit of Trustees in relation…
SV Partners’ Fabian Micheletto. SV Partners’ Michael Carrafa. It’s one thing to allege that creditors of a bankrupt knowingly participated in a fraudulent settlement to deny others a share of the assets. It’s another thing to allege that the participants’ lawyers were in on it. That however is where things stand as SV Partners’ Michael Carrafa and Fabian Micheletto pursue claims for damages and equitable…
SV Partners’ Fabian Micheletto. SV Partners’ Michael Carrafa. Two bankruptcy trustees have been ordered to pay the costs of a director who successfully argued at appeal that Federal Circuit Court judge Sandy Street denied her procedural fairness when he took over her cross-examination, introduced his own evidence and generally demonstrated what some might apprehend as blatant bias. The successful appeal – detailed in Bhnan v…
dVT Group co-founder Riad Tayeh iNO Opinion You can imagine it must have been difficult for ex-liquidator Riad Tayeh to resist contributing a few cents worth of hard won wisdom when the Federal Government invited individuals and organisations to suggest improvements to the bankruptcy regime. The doors were flung open for submissions in January 2021, which was only a month before a judge of the…
RSM partner Frank Lo Pilato. It doesn’t necessarily matter if your counsel has identified a new cause of action by which substantial sums might be recovered. If the trial dates are set, the respondents are prejudiced, the judge has a side hustle and you’re held to a higher standard than the average punter then you’ve got buckleys. That at least is how it turned out…
WLP Restructuring CEO Scott Pascoe. BPS Recovery’s Dave Sampson. When bankrupts are elderly and rely on their accountant son to respond to inquiries from their trustee, there’s always the chance for things to go awry. When that son has previously been found by a judge of the Supreme court of Victoria to have falsified bank statements; deliberately flouted court orders and deliberately given false evidence…
Bankrupt IP Sam Henderson. Grant Thornton’s John McInerney. When a company owes the ATO $5 million and would have had an opportunity to pay it but for a settlement that saw it forgo $5 million of $8 million it was owed well, you have to wonder if the professionals engaged to advise on the deal were granted full access to all the facts? The question…
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 fighting the claim, brought by Timbercorp’s liquidators Craig Shepard and Mark Korda of…
dVT’s Antony Resnick. dVT Group co-founder Riad Tayeh A prominent liquidator facing bankruptcy proceedings has been expelled from the partnership he co-founded two decades ago. According to a judgment of the Federal Court of Australia, the liquidator was notified late last month by his fellow partners that he was liable for expulsion from the partnership as a result of being served a creditor’s petition, which…
dVT Group co-founder Riad Tayeh Retired dVT Group co-founder Anton de Vries The clock is nearing a minute to midnight for dVT Group co-founder Riad Tayeh, with the Federal Circuit Court preparing to hear a creditor’s petition application lodged on May 10 by the liquidators of Timbercorp. If unopposed the 58 year old registered liquidator could be declared bankrupt next month. Such a declaration would…