Deloitte’s David Mansfield. It should be impressed upon young accounting and finance types contemplating a career in insolvency that they should abandon all hope of ever receiving an accolade from a grateful creditor. In the game they’ve chosen to play, thankless silence is a ticker tape parade. “What’s in issue is the level of attention to detail, the staff and title of the staff recorded…
Olvera Advisors’ Neil Cussen. Olvera Advisors’ Tony Wright. According to documents filed in the NSW Supreme Court Neil Cussen and Tony Wright will be expecting a judge to find them without sin when their application for validation of their appointments as voluntary administrators (VA) of Ark Capital Partners (ACP) comes before the court later today. With money short and the next Ark employee wages bill…
Paul Leroy. Counsel for the Inspector General in Bankruptcy (IGB) told the Federal Court that the IGB has uncovered an additional $500,000 allegedly pilfered by Paul Leroy, the ex-trustee in bankruptcy who departed the jurisdiction in December 2023 and is now residing in Belgium. Barrister Bridget Slocum told Federal Court justice Shaun McElwaine on Friday that since the IGB had commenced the current proceedings in…
Bill Fletcher. Kate Barnett. Bill Fletcher spent half of yesterday doing all he could to avoid throwing Kate Barnet under a bus. Mostly he succeeded. The former Bentley’s partner, who would normally be enjoying an enviable boomer retirement instead presented in the Federal Court for public examination by counsel for Mark Robinson, the Fort Restructuring principal who replaced Fletcher and former Bentleys’ colleague Barnet as…
Salea Advisory founder Sule Arnautovic. (Image https://www.salea.com.au) Parties in the alleged “Richmond Group of Companies” (Richmond Group) tax dodge proceedings were back before a judge this morning, continuing their slugfest over questions of conflict and who should be liquidator of a related entity that may represent a pathway to actual money. Among the myriad related entities to which Richmond Group liquidators Peter Krejci and John…
SV Partners’ executive director Michael Carrafa. SV Partners‘ executive director Michael Carrafa is appealing the reputational evisceration he was dealt in December by Supreme Court of Victoria judge Clyde Croft, who ruled that Carrafa had breached his duties as liquidator of Gemwood Projects Pty Ltd (Gemwood) by prosecuting litigation he knew to be hopeless. As reported by iNO in January the judge had dismissed Carrafa’s…
Grant Sparkes Deloitte partner Richard Hughes. Grant Sparks and Richard Hughes are far from extricating themselves from the self-inflicted tribulations that accompanied their tenure as general-purpose administrators (GPAs) of IG Power Callide Pty Ltd (IGPC) but an application for an inquiry into the pair’s conduct sought by obstreperous Czech investor and Callide joint venture partner Sev.en Gamma A.S. has been shelved. What remains in contest…
PKF partner Simon Thorn. We don’t know if it’s a testament to the generally high standards maintained by Australian liquidators or an indictment of ASIC’s stretched enforcement capability but up until last month there hadn’t been a referral to a disciplinary committee under section 40-50 of Schedule 2 to the Corporations Act in almost four years. The last time a Committee was convened to deliberate…
Vincents director Nick Combis. Nick Combis’s 15 years of torment as receiver of the White Rook and White Horizon trustee partnership has finally come to an end and after all of the unexplained delays and unnecessary litigation he’s managed to walk away with the bulk of his remuneration intact. “it is difficult to escape the conclusion that spending over a decade to recover a sum…
Fort Restructuring co-founder Mark Robinson. After at least a decade of questionable litigation, incessant creditor criticism and a failed ASIC investigation, former Bentleys Corporate Recovery duo Bill Fletcher and Kate Barnet probably thought the tribulations of the Octaviar liquidation were behind them. Their replacement Mark Robinson and his backers have other ideas. In recent months the Fort Restructuring principal has had issued a flurry of…