EY’s Sam Freeman. EY’s Colby O’Brien. Remember the stick those administrators appointed to Pindan Group last year copped after it was revealed – by iNO – the extent of the relationships the VAs’ firm EY has with Pindan, its immediate owner Oxley Sparkle and ultimate parent, Oxley Holdings Limited? Plenty was how much and plenty of iNO readers thought that their being able to continue…
BPS Recovery’s Dave Sampson. KPMG’s Max Donnelly. Bungling by the Australian Financial Security Authority (AFSA) has forced two bankruptcy trustees to court in a bid to restore estates to their rightful appointees. Later today the Federal Court will hear an application by KPMG bankruptcy veteran Max Donnelly for declarations that he is the trustee in bankruptcy of the estate of Jason Maurie Nowytarger but not…
Deloitte’s Sal Algeri. Deloitte partner Jason Tracy. Immaterial. Every engagement. Every one of the $560,000-odd dollars Deloitte Australia billed and received from the insolvent Probuild construction group in the last two years, if not six months. All of it. Immaterial. So at least sayeth Deloitte partners Sal Algeri, Jason Tracy, David Orr and Matt Donnelly in their February 23, 2022 Declaration of Independence, Relevant Relationships…
Duff & Phelps’ Marcus Ayres. Duff & Phelps’ Steve Parbery. As iNO reported last week, Duff & Phelps duo Marcus Ayres and Steve Parbery have had their hands full winding up Queensland coal mine operator ICRA Rolleston Pty Ltd (ICRA). ICRA’s sole director – John Phillip Canavan – suspects the pair of having a conflict with ICRA’ former joint venture partner and his nemesis Rolleston…
Banton Group CEO Amanda Banton. KPMG’s Martin Jones. If the Federal Government wanted a recent example of why the litigation funding industry should submit to the regulatory cosh as is envisaged in the Government’s Corporations Amendment (Improving Outcomes for Litigation Funding Participants) Bill 2021 then it might like to look at the latest update for creditors of the Forge Pooled Group (FPG). “The fact that…
KPMG’s Martin Jones. With wounds still agape after the whuppin’ meted out by West Australian Supreme Court judge Kenneth Martin on December 1, one wonders what fresh hiding to nothing ASIC is on as it seeks to have three insolvency practitioners from KPMG punted as the administrators of Salt Lake Potash Limited (SLPL). At a hearing in The West Australian Supreme Court this week SLPL…
KPMG’s Andrew Smith. KPMG’s Martin Jones. ASIC’s record of litigation against registered liquidators continues to resist improvement, with a judge yesterday labelling the regulator’s bid to induce him to slash the fees of two voluntary administrators (VAs) as “unprincipled” and “wholly pointless”. “It was never viable to differentiate work that was said to be ‘tainted’, from work said not to be. If it is ASIC’s…
BCR Advisory’s John Morgan. Sydney liquidator John Morgan copped the treatment in the Federal Court witness box yesterday as a three day hearing kicked off to determine if a company he de-registered more than three years ago should be reinstated. If Morgan’s application succeeds and the BCR Advisory principal is also rewarded with the pooling order he seeks then FEG Recoveries will bankroll the commencement…
Proposed Salt Lake Potash Limited Special Purpose Administrator Dermott McVeigh of Avior Consulting. So you concede your appointment might appear to be less than entirely free of conflict, that regulators and others are scrutinising the circumstances of said appointment and your solution is to apply to a court to appoint a special purpose administrator (SPA), whose job will include clearing you (hopefully) of any conduct…
Liquidator Moira Carter. When your funder is the major creditor by an insurmountable majority and wants you to use its preferred lawfirm, well, what’re you going to do? Particularly when your funder is that model of decorum in litigation, the Commonwealth. For one North Queensland liquidator, this scenario has armed enemies who are not only seeking to remove her but also want the Commonwealth’s proof…