JUSTKapital founder Phil Kapp. The saga of former Corrs partner and JUSTKapital co-founder Philip Kapp does not stop with the latest instalment featuring a fight over the proceeds of sale of a holiday house. Kapp has already battled aggressive cancer with a blitzkrieg of experimental and expensive treatments; fallen out with the partners in his litigation funding venture and declared bankruptcy following a relentless pursuit by the…
Pitcher Partners’ Paul Weston. Pitcher Partners partner Paul Weston has gained some useful intel in regards to disclosure and examination summonses for those playing their trade in the personal insolvency space, though not without cost. This week the Federal Court agreed with a former bankrupt and his wife that examination summonses requiring them to attend the court for questioning should be set aside on the…
Artemis Insolvency’s Peter Dinoris. The bankruptcy regulator has confirmed what INO reported back on March 6, 2019 – Queensland-based trustee Peter Dinoris is potentially facing the chop. Without fanfare the Australian Financial Security Authority (AFSA) has attached a notice on its register of trustees advising that the Inspector General in Bankruptcy had issued Dinoris with a show cause notice and received no response. Accordingly, the…
KordaMentha’s Rahul Goyal. KordaMentha’s Jen Nettleton. KordaMentha’s Jen Nettleton and Rahul Goyal are cleared to commence bankruptcy proceedings against high profile executive coach Peter Hislop after a court ordered that he pay the pair more than $1.6 million. Hislop’s company Potentia3 Pty Ltd was facing liquidation back in May 2015 after defaulting five times on repayment arrangements it had entered into with the Australian Tax…
SV Partners’ Michael Carrafa. Image: SV Partners. An application by SV Partners’ Michael Carrafa for vacant possession 13 years after sequestration has been knocked back in the Federal Court. The unusual circumstances are outlined in Carrafa v Chaplin, in the matter of the bankrupt estate of Michael Chaplin [2019] FCA 415. What bankruptcy practitioners – and their lawyers – can takeaway from this one is…
JUSTKapital founder Phil Kapp. Former Corrs high flyer and JUSTKapital co-founder Philip Kapp declared bankruptcy earlier this month after a lengthy battle with cancer left him financially vulnerable to attack by the Australian Tax Office (ATO). In recent days Kapp has been informing friends and business associates of the reasons for his declaration of bankruptcy on March 4, 2019. Assuring them that his work is…
JUSTKapital founder Phil Kapp. Philip Kapp, the former Clayton Utz supremo who plunged with such gusto into the emerging litigation funding sector, has declared himself bankrupt. Federal Court records show that the Deputy Commissioner of Taxation (DCoT) lodged a bankruptcy notice and creditors petition against Kapp on the National Personal Insolvency Index (NPII) in August last year. A month later the DCoT served Kapp. In…
Peter Dinoris: Word is that AFSa would like a chat. INO’s spent part of this week trying to corroborate multiple reports coming across our desk advising that Artemis Insolvency principal Peter Dinoris may be facing some form of conduct action in relation to his trustee’s ticket. INO makes no suggestion of wrongdoing and at time of writing the subject of those reports had not responded…
Deregistered Trustee David John Leigh. Don’t you love this initiative by the regulators to make registered practitioners responsible if a disgraced ex-trustee or liquidator weedles their way back into the game? The thought occurred to INO following Wednesday’s announcement by ASIC in regards to David John Leigh, the former PPB Advisory partner who misappropriated $800,000 from a liquidation account between July and November in 2017. The committee…
Rob Naudi: taking over after de Vries and Solomons resigned dVT Group’s Anton de Vries and David Solomons have had to relinquish their role as trustees of a bankrupt estate, due to differences between creditors unrelated to the bankrupt and those as closely related as creditors could be. Replacing them is Rodgers Reidy’s Rob Naudi, who’s been anticipating a call up since the middle of…