KPMG’s Martin Jones. KPMG partner Hayden White. Mindful of the scrutiny being applied by ARITA and ASIC to three EY WA partners, three WA domiciled restructuring practitioners at KPMG have moved early to quell conflict concerns in respect of their appointments last week as voluntary administrators (VAs) of Salt Lake Potash Limited (SLPL). In making their declaration of relevant relationships, independence and indemnities (DIRRI) KPMG…
Threats of special purpose scrutiny might shortly be lifted from the shoulders of Jirsch Sutherland partners Bradd Morelli and Trent Devine after one of the players in the hotly disputed FW Projects Pty Ltd liquidation blinked. Manassen Holdings, the investment arm of wealthy food importer Roy Manassen and wife Cynthia last month wrote to lawyers representing the IGA-affiliated Karellas family. In that correspondence, details of…
FMIF receiver David Whyte. FTI Consulting’s John Park. Ex-BDO partner David Whyte might have departed the profession for a life after insolvency but retirement doesn’t mean the abandonment of entitlement to fees incurred, as can be seen from Bruce & Anor v LM Investment Management Limited & Ors [2021] QSC 203. In this long running saga Whyte as receiver of LM First Mortgage Investment Fund…
Towards the end of the hearing of a liquidator removal application yesterday, the presiding judge mused that whilst he was unlikely to find that GS Andrews Advisory principal Greg Andrews has demonstrated bias as liquidator of Candlebrush Investments Pty Ltd (Candlebrush), he might remove him anyway. The judicial contemplations were uttered by NSW Supreme Court judge Ashley Black after his honour had spent much of…
EY’s Sam Freeman. EY Partner Vince Smith. There’s been plenty of comment about the decision by a trio of EY restructuring partners to consent to appointments as voluntary administrators (VAs) of failed Perth-based construction group Pindan. Some or other part of EY has spent plenty of time in Pindan’s plethora of pockets these last few years and Pindan’s parent has also engaged EY to sniff…
CJG Advisory’s Mathew Gollant. Hall Chadwick partner Sule Arnautovic. (Image: Hall Chadwick) iNO can but imagine what might be afoot when an entity like the Nissan Motor Company (Australia) (NMA) replaces an incumbent liquidator via an application to court when NMA is the only creditor and therefore would have had no trouble replacing the incumbent at the first meeting. From what can be gleaned from…
EY’s Sam Freeman. Never let more than $340,000 worth of pre-appointment work influence concepts like the apprehension of independence seems to be the approach adopted by the trio of EY IPs who recently consented to act as voluntary administrators (VAs) of the Pindan property and asset management group. This at least is iNO’s opinion arrived at after reading the DIRRI distributed by Sam Freeman, Colby…
Liquidator Gavin Moss. Photo: iNO Images The hot sauce of cross examination was in full-flavoured evidence yesterday as iNO took another bite of proceedings in FOGO Brazilia Franchise Holdings Pty Ltd (FBFH). FBFH director, Rebel Sports co-founder and plaintiff Ian Dresner is seeking an inquiry into Chifley Advisory’s Gavin Moss, allegedly for demonstrating a lack of independence and misleading the court. Dresner also wants an…
JP Downey & Co’s Jim Downey. Hall Chadwick’s Richard Lawrence. A funny thing happened last week. Whoever chaired the first meeting of creditors of Bluechain Pty Ltd adjourned it without creditors voting on the usual resolutions in respect of whether or not to form a committee of inspection and retain or replace the administrators. Inquiries directed to Bluechain’s incumbent appointees did not elicit a reply….
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. Hall Chadwick’s Richard Albarran and Richard Lawrence have had to settle for a more than usually restrained role as administrators after Victorian Supreme Court Judge Jim Delany restrained them from conducting any tender or sale process of the assets of Bluechain Pty Ltd. Albarran and Lawrence were appointed provisional liquidators of the company in February following an…