Bankrupt IP Sam Henderson. It probably goes without saying that when a once successful insolvency practitioner is bankrupted and companies he’s been associated with collapse, then the subsequent insolvency appointees might uncover issues of interest. In the case of the recently bankrupted Sam Henderson – who sources insist held a partner-equating status when he was at Jirsch Sutherland – liquidators John McInerney and Phil Campbell-Wilson…
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…
Struck-off liquidator David Iannuzzi. In the end, 10 years on the sidelines looks better than a lifetime ban. So for David Nicholas Iannuzzi, the Sydney liquidator who for the last two years and three months has defended wide ranging allegations of serious misconduct, a decade of ignominy as a struck-off ex-liquidator commenced yesterday. Delivering his long awaited judgement, Federal Court judge Angus Stewart ordered that…
Amanda Young. It’s been almost 12 months since her employment was terminated but challenges continue for suspended liquidator Amanda Young. Last week ASIC referred the former Jirsch Sutherland (Jirsch) partner to a Schedule 2 Disciplinary Committee, alleging misconduct in respect of sections 40-40(1)(f) and (m) of the Insolvency Practice Schedule. Section 40-40(1)(f) deals with an alleged general contravention by a liquidator while (m) involves the…
KPMG’s Stephen Vaughan. KPMG’s Gayle Dickerson. Back in mid-July liquidator David Iannuzzi was scheduled to endure three days of gruelling questioning in a Federal Court witness box. The examination was to be the start of the penultimate battle in a war of attrition that began back in September 2017 when the Commissioner of Taxation (CoT) filed a 92-page originating process that listed a most egregious…
Amanda Young. Former Jirsch Sutherland partner and liquidator Amanda Young has told a CAANZ disciplinary tribunal that almost $200,000 she took from liquidation accounts was owed to her. In June the Disciplinary Tribunal of Chartered Accountants Australia and New Zealand (CAANZ) heard the application of the association’s Professional Conduct Committee (PCC) for an interim suspension of Young’s membership. While Young, who did not attend the…
Living in Prague: Clamenz Lawyers’ Daniel Clarke. INO has republished this article because it has been brought to our attention that the previous version contains imputations that Veritas Advisory, and its directors, knowingly accepted an appointment of a company involved in a tax scam. In fact the Plutus Payroll Australia Pty Ltd appointment was not referred to Veritas Advisory by Mr Clarke or Clamnez Lawyers. …
Liquidator David Iannuzzi. In agreeing to be struck off the list of registered liquidators and banned from either reapplying for re-registration or working in the insolvency sector for 10 years, Veritas Advisory principal David Iannuzzi has done all he can. The rest is up to Federal Court judge Angus Stewart, who on Wednesday reserved judgment in regards to consent orders jointly proposed by Iannuzzi’s and…
Veritas Advisory principal David Iannuzzi. Sydney liquidator David Iannuzzi looks set to consent to orders this morning that will see him stripped of his liquidator’s registration and rubbed out of insolvency for 10 years. At an interlocutory hearing on Monday, counsel for Iannuzzi and the Commissioner of Taxation (CoT) jointly told Federal Court Judge Angus Stewart that they had an “agreed statement of facts” (SoFac)…