Chris Baskerville, one of two new equity partners at Jirsch Sutherland. It might not be a response to the recent travails within Jirsch Sutherland’s NSW practice but the announcement of new partners is probably just the tonic to boost flagging morale. Jirsch’s Sydney HQ has been the subject of intense scrutiny since December last year when partner and registered liquidator Amanda Young was sacked amid…
Worrells’ Nick Malanos. Nick Malanos and Adam Farnsworth have been forced to confirm their appointments as liquidators of two companies formed to operate the business of Rhodes & Beckett after the private equity group that bankrolled the ailing retailer out of administration in 2017 claimed those doing the appointing weren’t valid directors. NSW Supreme Court judge Kelly Reeves yesterday ruled that Malanos and Farnsworth, who…
Hamilton Murphy’s Stephen Dixon. Worrells’ Ivan Glavas. Worrells Melbourne partner Ivan Glavas has come in for some serious stick from a Victorian Supreme Court judge for adjudicating on proofs of debt in a way that led to a resolution to wind up a company being carried when in the normal course that outcome would’ve been defeated. Notwithstanding that the company was almost certainly insolvent, in…
Deloitte’s Sal Algeri. Deloitte’s Glen Kanevsky. The Deloitte partners appointed voluntary administrators (VAs) of AxsessToday Limited have had to lodge a detailed Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) thanks to their firm’s intimate involvement with the the insolvent entity for more than six closely engaged and lucrative pre-appointment months. AxsessToday, an ASX-listed equipment leasing and finance group controlled by Melbourne’s wealthy Meydan family,…
Ferrier Hodgson’s Peter Gothard. Australia’s top tier of independent insolvency firms – already a sparsely populated space – looks set to lose another member with well placed sources confirming that Ferrier Hodgson is close to agreeing merger terms with KPMG. One source told INO yesterday that the merger looked certain to proceed and would likely be consummated in the next few months. Another said Ferrier…
Jirsch Sutherland partner Amanda Young has been sacked after allegedly stealing almost $240,000 from the accounts of insolvent companies she controlled as liquidator. In a statement to Insolvency News Online (INO) late yesterday Jirsch Sutherland managing partner Bradd Morelli said that following undertakings Young provided to the NSW Supreme Court: “Amanda Young’s employment at Jirsch Sutherland has since been summarily terminated.” She had also lodged with…
Barry Taylor’s plans to lure a Queensland-based registered liquidator into the HLB Man Judd fold have again been foiled after John Shanahan of Gervase Consulting decided not to proceed with a joint venture the two parties have apparently been mulling over for some time. Sources said the parties had been close to a deal but that Shanahan decided the fit wasn’t quite right and he was…
The Grow Advisors figures for the first quarter of the 2018/19 financial year have landed on INO’s desk and what’s most obvious is the grip that Worrells has on the market for creditors voluntary liquidations specifically and the formal appointment market in general. The national mid-tier smashed its rivals for the period from July 1 to September 30, raking in 174 CVLs out of a total…
The takeover of PPB Advisory (PPBA) by PwC might have been declared complete two months ago but for some at least, hostilities persist. In the most recent outbreak PPBA was served with a statutory demand for unpaid draw down by one of the many former senior staffers still holding equity in what is now in effect an incorporated unit trust in wind down. We understand…
Eat my spray might be the boast after BPS Recovery secured the Liquidator’s Trophy at this year’s Chartered Accountants ANZ Annual Sailing Regatta hosted by the Cruising Yacht Club of Australia (CYCA) last Thursday. The win, by BPS partner Max Prentice’s Ticket of Leave (ToL), wrenches back the coveted title from Paul Billingham, who had relieved 2016 winner Prentice of the trophy when the CYCA commodore…