David Levi. If you’re appointed administrator of a company subject to a creditor’s statutory demand and indicate a preparedness to have adjourned the winding up application on foot, it makes sense to turn up with your boxes ticked. Last Friday a court dealt with a practitioner who didn’t. “At the risk of stating the blindingly obvious if I assume I’m gong to win the lottery…
Piper Alderman partner Thomas Russell. Hegarty Legal’s Peter Hegarty. It can’t be easy for lawyers making their bones in the insolvency space. You need worthwhile referrers and clarity about whether you’re going to implicitly trust your clients or proceed on the basis that such a course would constitute an intolerable risk. Whichever path is chosen there’s always the potential for uncertainties around retainers and ….
de Jonge Read founder and executive director Henry ‘Hank’ de Jonge. When a prominent pre-insolvency advisor, in the midst of surging levels of external administration, calls in liquidators iNO cannot look away because in all likelihood, there’s bound to be something to see. In this instance it’s Henry “Hank” de Jonge and Ashley Shield, those well known providores of “Pre-Insolvency advice you can trust” from…
FTI Consulting’s Kate Warwick. KPMG’s David Hardy. Thanks to a judge’s preparedness to make suppression orders iNO can’t say as much as we reckon should be said about yesterday’s application by the administrators of failed cosmetics group BWX Pty Limited for an extension of the period in which to convene the second meeting of creditors. The application was the second made by FTI Consulting’s Joe…
KPMG auditor Adam Twemlow. For a man who may soon find himself the target of yet another class action, KPMG auditor Adam Twemlow displayed a generally unflappable demeanour yesterday during several hours in a Federal Court witness box. The Partner In Charge of KPMG Enterprise, Metro Region in Brisbane was the last examinee for 2023 as part of public examinations brought by dentist investors burned…
Deloitte’s Luci Palaghia. Deloitte’s Tim Heenan. When it comes to making disclosures to demonstrate independence, possessing intimate knowledge about a corporation’s affairs can create problems, as would seem to be the case following further revelations about the collapse of the All Smiles dental chain. Acquiring all that knowledge can’t be achieved without a lot of involvement and for those insolvency practitioners registered to take on…
Cathro & Partners’ Andrew Blundell. RSM’s Richard Stone. Cathro Partners Andrew Blundell and Simon Cathro must have thought that they had a good chance of retaining their appointments as voluntary administrators (VAs) of failed chartered accounting firm Talbots Pty Ltd when proceedings commenced yesterday morning. Those proceedings constituted the hearing of an application brought by the Deputy Commissioner of Taxation (DCoT) for the immediate winding…
Allens partner Phil Blaxill. WLP Restructuring’s Glenn Livingstone. Liquidators receiving letters from a lawyer asking for this or that is no rare thing, but when such a letter specifies information relating to companies to which the liquidator has never been appointed well, that ain’t so common. What is common though is the try on, and the correspondence Glenn Livingstone and Scott Pascoe received on September…
Hall Chadwick WA partner Cameron Shaw. GTS Advisory director Mathieu Tribut. Much of the blood presently thickening our economic waters comes courtesy of failed building and construction firms, with wounded players going belly up thanks to rising interest rates, spiralling labour and materials costs and the return of the tax office to the fray. Inevitably, this means more referrals to practitioners and more competition for…
PwC Director Wil Honner. iNO acknowledges it’s a longish bow but posits the question anyway. Is the tax office reducing its exposure to appointees from PwC due to the stink emanating from the global firm’s Australian tax practice? This question occurred to iNO during the hearing in the Federal Court yesterday of an application for the winding up of One Asphalt (NSW) Pty Ltd (One…