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….
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 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…
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…
The following tale, drawn from a recent Federal Court judgment, might be viewed as a handy guide on how to frustrate a bankruptcy trustee into an error, though the determining judge made a point of noting that her decision was not based on misconduct on the trustee’s part, or for that matter on the bankrupt’s undeniable recalcitrance.No indeed. Irreconcilable differences are the culprit, as evidenced…
Jones Partners Daniel Soire.Jones Partners principal Bruce Gleeson. After reading the Minutes of the reconvened second meeting of creditors of Dalma Form Specialists Pty Ltd (DFS) iNO suspects that a collision between the incumbent voluntary administrators (VAs) and the ATO is inevitable.The second meeting was initially adjourned on February 7 to allow VAs Bruce Gleeson and Daniel Soire of Jones Partners time to undertake more…
Balance Insolvency principal Tim Cook.In the NSW Supreme Court this week iNO heard tell of a liquidator who on being presented with two options, chose a third which doesn’t exist. It hasn’t turned out well, though as is chronicled below, worse was averted.The practitioner in question is Balance Insolvency’s Tim Cook, and it would be remiss of us to not also mention Mills Oakley special…
KordaMentha Singapore partner Cameron Duncan.One bad interview before a disciplinary committee is all it takes to lose one’s registration as a liquidator. Fortunately, one good performance before the Administrative Appeals Tribunal (AAT) is all it takes to have an order cancelling one’s registration overturned.“the committee’s adverse decision appeared to be premised almost entirely on what it took to be Mr Duncan’s sub-optimal performance when questioned…
Kennedy Ryan principal Richard Rohrt.Removing an incumbent liquidator is a high hurdle but Sydney accountant Rose Guerin is having a crack, seemingly compelled by the toxicity of her relationship with Kennedy Ryan’s Richard Rohrt, liquidator of her failed accounting firm, Rose Guerin and Partners Pty Ltd.In the Federal Court yesterday, Guerin’s counsel told judge Roger Derrington that his client would argue that Rohrt should be…
PKF partner Petr Vrsecky.Bankruptcy trustees and those aspiring to be such take heed. What follows is a cautionary tale about a trustee impelled by statutory obligation and the bankrupt who resisted, or at least appeared to. The practitioner in question is PKF’s Petr Vrsecky. His nemesis is Ms Beiji Xu, who was bankrupted in November 2022 after failing to pay the lawyers who’d represented her…