Chris Baskerville of Jirsch Sutherland. Bailments. Security interests. Deeds of settlement and insolvency. It’s a formula liquidator Chris Baskerville has found can leave a bitter aftertaste. So good luck to those currently coming before Labor senator Deb O’Neill and others of her species as they hear submissions as part of the Parliamentary Joint Committee on Corporations and Financial Services review of Corporate Insolvency in Australia….
PwC partner Martin Ford. iNO would like to make it clear at the outset that in respect of aspersions cast on the conduct of PwC partners Martin Ford and Melissa Humann in the winding up of GTW Investments (Aust) Pty Limited (GTW), the creditor doing the disparaging has form. Back in 2020 the Mitris family’s Pacreef Investments (Pacreef), which yesterday intervened in proceedings brought by…
Lowe Lippmann partner Gideon Rathner. Lowe Lippmann director Matt Sweeney. Insinuations about why PE Capital Nominees (Nominees) liquidator Matthew Sweeny presented for cross-examination this week have attracted a vigorous rebuttal from the Lowe Lippmann director’s counsel. “There were many propositions put to him by Mr Bick that he seemed reluctant to embrace.” Justice Tim McEvoy. In the Federal Court yesterday Ian Martindale KC for Nominees’…
Lowe Lippmann director Matt Sweeny. Lowe Lippmann partner Gideon Rathner. There’s certainly been private lenders burnt by the flame out that was Victorian developer PE Capital Funds Management Ltd but more recently some of the insolvency practitioners appointed to wind up parts of the group have also felt the heat. In terms of public grilling none can be said to have been put to the…
Mackay Goodwin director Dave Hurst. When a liquidator’s relying on Assetless Administration funding (AAF), iNO always salts with skepticism any criticism of how that liquidator has conducted litigation the regulator’s funded. After all, if ASIC can find a way to make a liquidator’s life difficult, it will. That does not of course mean it is ASIC’s fault that in the case of Lloyds Curry Shop…
SV Partners’ Fabian Micheletto. SV Partners’ Michael Carrafa. It’s one thing to allege that creditors of a bankrupt knowingly participated in a fraudulent settlement to deny others a share of the assets. It’s another thing to allege that the participants’ lawyers were in on it. That however is where things stand as SV Partners’ Michael Carrafa and Fabian Micheletto pursue claims for damages and equitable…
Suspended trustee Peter Macks. Amos Insolvency’s Peter Amos. When a professional transgresses and regulators impose the requisite penalties it sometimes signals not so much an end to the matter as a green light for the commencement of a secondary round of censure. In this day and age professional associations have their own disciplinary procedures independent of conduct’s primary arbiters. When a member is sanctioned by…
McGrathNicol’s Anthony Connelly. The stench of potential phoenix activity clings to the arrangements that frustrated Gavin Morton in his capacity as administrator of TSK QLD Pty Ltd to the point he was removed by creditors and as court records show, his replacements have had an equally frustrating time cutting through the miasma. As is revealed in Connelly, in the matter of TSK QLD Pty Ltd…
Crouch Amirbeaggi co-founder Nick Crouch. Eight months after a disciplinary committee was convened to determine what punishment if any should be meted out to liquidator Nicholas Crouch the committee has spoken, faintly and inaudibly as it turns out. This is no draconian impost. No rack and ruin. Nor is it an example of a decision being reached in 60 days, as the legislation encourages disciplinary…
Sheridan’s Chartered Accountants principal Jennifer Low. Pitcher Partners’ Bryan Hughes. Torrid times in the West last week as the managing partner of Pitcher Partners WA was grilled in a Supreme Court witness box at the behest of a rival liquidator. The occasion was the public examination of directors and others linked to the 2018 failure of Titan Interactive Pty Ltd, which in recent times has…