With the September Quarter now concluded Stratos Legal has tallied up the insolvency appointments and as usual the results make compelling reading. Yet again Worrells has demonstrated its iron grip on the market for creditors voluntary liquidations (CVLs). The national firm topped the list for CVLs in the three east coast states and in South Australia, leaving the firm well placed to finish 2018 at the…
After all the defiance and all the warnings McGrathNicol and the FEG Recovery Unit have turned demure as mice and settled their differences in a confidential arrangement that allows for no comment. Such was the outcome this week in the Federal Court when Justice Brigitte Markovic made orders by consent in Commonwealth of Australia represented by the Department of Employment V Peter McKenzie Anderson & Ors….
With the dissolving of the PPB Advisory (PPBA) partnership imminent, rumours are that draw downs on the PPBA partnership’s loan facility are suspended as management sets about repaying the firm’s working capital facilities to PPBA’s bank, ANZ ahead of the August 1 deadline for the completion of PwC’s acquisition approaches. Several sources who spoke to INO confirmed hearing that distributions to partners had been frozen. One…
After considerable deliberation PPB Advisory co-founder Steve Parbery has joined Ferrier Hodgson, less than two weeks ahead of the scheduled completion date of PwC’s acquisition of PPB Advisory, the firm Parbery co-founded with Max Prentice and Vince Barilla in 1983. Parbery has had carriage of some of the highest profile insolvency matters in the country, including Lehman Brothers and more recently in his capacity as Special Purpose Liquidator of Queensland…
Stratos Legal’s latest interim insolvency appointments rankings show the firms that were leading as at June 30 2017 are mostly maintaining their dominance in 2018. When it comes to creditors voluntary liquidations (CVLs), Worrells is leading the pack nationally thanks to its preeminence in Queensland and Victoria. It also performed strongly in New South Wales, ranking second only to Dominic Calabretta’s Mackay Goodwin which was NSW’s CVL front…
ADVERTORIAL SellersMuldoonBenton is now SMB Advisory (and we have two new partners too). It is with much pleasure and excitement that the Partners of SMB Advisory not only launch the new name and logo but also announce the appointment of Andrew MacNeill and Kristen Beadle as partners from 1 July 2018. The boutique insolvency and restructuring firm with offices in Melbourne, Brisbane, Geelong and Hobart…
As the August 1 deadline for PwC’s digestion of PPB Advisory approaches, Insolvency News Online (INO) has learned that Borrelli Walsh is speaking to PPB Advisory partner Mark Robinson as the Hong Kong-based insolvency specialist moves closer to establishing a presence down under. Calls to Robinson were not returned but the intel is good and we understand Borrelli Walsh is also speaking to PPB staff who have…
Costa Nicodemou and Brett Lennane are betting on specialisation to underwrite their new venture, Newpoint Advisory which opened for business in Sydney’s MLC Centre last month. Nicodemou and Lennane were principal and consultant respectively at BRI Ferrier NSW before departing in April this year. Nicodemou told Insolvency News Online (INO) there were no hard feelings in relation to the departure, despite him having worked for and with…
It may well come down to differing definitions of what constitutes a partner but however a firm structures itself, almost a third of PPB Advisory (PPBA) partners will no longer enjoy the cache the term confers once their company is formally absorbed into the professional services collectivate of PwC on August 1, 2018. Sources revealed yesterday that while 30 of PPBA’s 33 partners will be moving to PwC,…
International insolvency and restructuring firm Borrelli Walsh has temporarily shelved plans to establish an Australian office in the wake of PwC’s purchase of PPB Advisory (PPBA). A source close to the firm told Insolvency News Online that the Hong Kong-headquartered firm had been about to sign a lease for premises in Sydney when news broke about the PwC takeover of PPBA, details of which were revealed exclusively by INO in: Merger: PPB…