EY director Martie Tziotis. EY partner Morgan Kelly. The Gallic shrug, best articulated by uttering c’est la vie may have been heard in EY Sydney’s George Street HQ this week after a judge of the NSW Supreme Court decided against appointing two of the big four firm’s restructuring specialists as liquidators of Rynever Pty Ltd. Instead, Judge Ashley Black sided with the plaintiff’s preferred nominees,…
Aston Chase co-founder Steve Naidenov. The supposedly independent committee that convene after ASIC – whose delegate always chairs – has decided that a show cause notice has been inadequately responded to have in recent times recorded only a modest strike rate. Days before Christmas the Committee released its decision in relation to RegLiq and Aston Chace co-founder Steve Naidenov. Regular readers of iNO will know…
Paul Leroy with former Federal MP Julie Bishop in 2016. iNO readers may be aware of claims swirling around a Sydney-based bankruptcy trustee who’s allegedly fled the jurisdiction with almost $2 million swiped from the estate of former bankrupt and Health Sector Union (HSU) secretary Kathy Jackson. Those claims gained weight yesterday after freezing orders obtained by the HSU’s lawyers were varied to allow veteran…
Former liquidator Peter Andrew Amos (R) with his lawyer Clayton Davis outside the Downing Centre District Courts last week. Peter Andrew Amos will have to wait six months before learning if pinching almost $2.5 million is sufficient to see an ex-liquidator gaoled. Amos, who last December pleaded guilty to six counts of dishonestly using his position as an officer of a company to gain an…
This may be the cautionary tale to top them all. Levi Consulting’s David Levi. A registered liquidator, making submissions in respect of costs, has – unwittingly we presume – required a judge of the NSW Supreme Court to consider making adverse findings against him. The mother of all own goals, scored on the eve of the new year, though we won’t know till after 4:00pm…
Cor Cordis partner Jeremy Nipps. While the words “discharge” and “onus” should never appear in a sentence aspiring to politeness, in obtaining arrest warrants for two men linked to failed iron ore play Ochre Group Holdings (OGH), Cor Cordis West Australia partner Jeremy Nipps has extracted a useful judgment in respect of where onus lies in negating reasonable cause, and how that onus is discharged….
Nelson McKinnon’s Steve Agosta. Insolvency Option’s Darren Vardy. Punching the wrong key and submitting an incorrect amount – the dreaded “fat finger” error – rarely attracts attention if the sum is less than intended. When it’s more it’s a different story. When it’s more iNO for one sits up and takes notice, not that iNO was slouching at the back of Federal Court 19B on…
DW Advisory’s Paul Weston. It perhaps comes as no surprise that a man who’s defrauded our electoral processes, assaulted his missus, thumped a journalist, forged documents, and been banned, bankrupted and gaoled, might also find reasons to be aggrieved with his trustee. Nor does it surprise iNO that a court, having considered the numerous grounds advanced to justify an inquiry into the trustee’s conduct, might…
DV Recovery Management’s Daniel O’Brien. Oracle Insolvency Services’ Nick Cooper. With the fate of $20 million in a solicitor’s trust account uncertain and three sets of insolvency practitioners on the clock, who could fault any for contemplating liens? Certainly not iNO, who was roused from inattention during last Monday’s Corporation Lists in the NSW Supreme Court by barrister Ingrid King telling Justice Ashley Black that…
PKF partner Simon Thorn. A certain insolvency practitioner may attract some unwanted attention after ignoring forgery claims that a court has now upheld. In the NSW Supreme Court yesterday, Justice Kate Williams dismissed the practitioner’s application for orders validating his appointment as administrator of Premier Energy Resources Pty Ltd (PER), primarily on the basis that to do so her honour said would “give the imprimatur…