Conduct

Cayman lawyers fight to dislodge Hall Chadwick

Hall Chadwick’s Richard Albarran. Later this year the Federal Court will be asked to determine whether the Hall Chadwick quartette of Brent Kijurina, Cameron Shaw, Aaron Dominish and Richard Albarran should be replaced as liquidators of Probis Financial Services Pty Ltd (Probis) on the basis of bias.The application was commenced in February by Probis’s largest creditor, Harneys Trusts (Cayman) Limited (Harneys) as trustee for the…


Termination stayed after funding conundrum resolved

DW Advisory’s Anthony Elkerton.Orders terminating an unjustifiably prejudicial DoCA and appointing liquidators have been stayed after the parties worked out how to prevent the incumbent deed administrators from consuming the entirety of the deed fund in the event the deed proponent appeals.In the matter of Academy Construction & Development Pty Ltd (subject to Deed of Company Arrangement) [2024] NSWSC 842, orders were made on July…


Redacted indemnity defeats security for costs bid

Brooke Bird’s Robyn Erskine.The wrecker’s yard of dysfunctional administrations left behind by banned ex-liquidator David Iannuzzi and the late Murray Godfrey continues to smoulder, as is most recently demonstrated in North Shore Property Developments Pty Ltd (in liq) v Haddad [2024] FCA 728.“I am not persuaded that the applicants’ substantive case has obvious infirmities that would justify an order for security for costs.” Justice Geoff…


DA takes the fifth on cram down DoCA

Jirsch Sutherland partner Andrew Spring copped a judicial warning and took advice about self-incrimination during the hearing last month of an application to terminate a deed of company arrangement (DoCA).On June 12 and 13 Spring was cross-examined by counsel for the applicant, an Owners Corporation which had seen its claim for more than $7 million in respect of alleged defects in a residential development in…


Deloitte duo capitulate on Callide

Deloitte partner Grant Sparks.Deloitte partner Richard Hughes. Deloitte partners Richard Hughes and Grant Sparks may have evaded regulatory scrutiny after agreeing to relinquish their appointments as administrators of entities within the Callide energy group.In a brief hearing in the Federal Court yesterday draft orders were handed to Justice Roger Derrington providing for the retirement of Hughes and Sparks as general purpose administrators (GPAs) of IG…


Comlek administrators in the clear, almost

Wexted Advisors’Joe Hayes.Wexted Advisors’ Andrew McCabe.Barring the filing of an appeal in the next few weeks Joe Hayes and Andrew McCabe have almost certainly seen off what has been an aggressive push for adverse conduct and commercial immorality findings brought by Queensland’s Commissioner of State Revenue (CSR) in respect of the Comlek Group.“It is difficult to understand how, having been made an offer to enter…


Deloitte duo stumble again in Callide litigation

Deloitte partner Grant Sparks.It might be about time Deloitte’s Grant Sparks and Richard Hughes took heed of the old warning about digging holes you can’t climb out of.“On any view, the difficulties with the administrations of the IG Power companies arise as a result of the general purpose administrators’ initial failure to perform their statutory duties over a period of some ten months.”Justice Roger Derrington….


Administrator ditched in shareholder dispute

de Jonge Read’s Hank de Jonge.David Ross of I&R Advisory.Shareholders in dispute, oppression suits, an administrator ousted, DoCAs of doubtful provenance, even a phoenix sighting – dull moments are rare birds in the Corporations List of the NSW Supreme Court.This week the aforementioned elements swept monotony aside when representatives of the warring parties appeared in the matter of Mobius Distilling Company Pty Ltd.“Mr de Jonge…


Deloitte trio dodge inquiry bullet, for now

Deloitte partner Matthew Donnelly.Three Deloitte restructuring and insolvency partners have gone within a whisker of being ordered to submit to a conduct inquiry but remain potentially at risk after a judge of the Federal Court last week left the way open for the plaintiff in the proceedings to continue its pursuit. Orders made by Justice Michael Feutrill last week mean West Australian electricity generator Bluewaters…


Ex-Jirsch partner faked order to thaw frozen funds

A former salary partner in Jirsch Sutherland’s Melbourne office has been gaoled almost two years after pleading guilty to charges of deception and perverting the course of justice.Mateusz (Matt) Ujma, 46 of Melbourne was last week sentenced in the County Court of Victoria to two years and 10 months prison with a non-parole period of 20 months.The conviction does not relate to Ujma’s employment at…