Deloitte partner Sean Holmes. Cor Cordis partner Tom Birch. While it might appear that today’s edition comprises a “Focus on the West” and a spotlight on Deloitte partner Sean Holmes, we can assure iNO readers that it’s a coincidence. Unlike our other yarn involving Holmes’s efforts to wind up a Ponzi scheme based on algorithmic trading of foreign exchange, this old economy tale deals with…
KordaMentha partner John Mouawad. A recent judgment of the Supreme Court of Victoria demonstrates the unique challenges faced by administrators of digital trading platforms and how those challenges can contribute to the cost of the administration, especially when crypto currency is the asset traded. “The administration of the Companies is further complicated by the parallel bankruptcy proceedings that are being conducted in the United States….
The latest judgment to surface from the stew of litigation between the Deputy Commissioner of Taxation (DCoT) and those behind gold refiner Pallion Group reveals that a lone liquidator has been adroitly walking the perception-of-conflict tightrope since 2017. “It was not necessary for the Court to form a view that the liquidator is, or will likely be, in a position of conflict. Rather, it was sufficient that an appearance of conflict exists sufficient…
dVT Group partner Antony Resnick. dVT Group partner Suelen McCallum. For those attending online, sound drop outs, screen freezes and a constant hubbub of background blather plagued much of Wednesday’s first meeting of creditors of Toplace Pty Ltd, but joint administrators and meeting co-chairs Suelen McCallum and Antony Resnick can take comfort from the fact that despite the glitches, creditors refused to back their only…
dVT Group co-founder Riad Tayeh It’s never helpful when a government official casts aspersions upon insolvency practitioners two days out from a first meeting of creditors of a controversy-plagued firm whose founder has fled the jurisdiction. That however is the scenario facing dVT Group’s Suelen McCallum and Antony Resnick as they prepare for the first meeting of creditors of controversial construction firm Toplace Pty Ltd…
Olvera Advisors Neil Cussen. AL Restructuring founder Andre Lakomy. As we pass into the new financial year iNO can update readers in respect of our recent reporting of ructions in the Sydney offices of Cor Cordis. As of this week it appears the Sussex Street headquarters of the national firm helmed from Melbourne by Cor Cordis managing partner Bruno Secatore has lost four registered liquidators,…
Deloitte’s Sal Algeri. The dull ache caused by the commencement of DoCA amendment proceedings in the Supreme Court of Queensland is threatening to become a thumping migraine for Deloitte partner David Orr and his fellow Probuild deed administrators (DA). This week Probuild creditors received an update from Orr’s colleague and co-DA Sal Algeri advising that in the wake of their June 1 circular revealing that…
BDO partner Shaun McKinnon. Thomson Geer partner Scott Guthrie. Getting a straight answer about DoCA funding can be tougher than shelling an uncooked prawn, as lawyer Scott Guthrie can attest. When the Thomson Geer partner appeared at the second meeting of creditors of stalled aquaculture play Project Sea Dragon Pty Ltd (PSDPL) Guthrie had one overriding concern – if the company was returned to the…
Fort Restructuring co-founder Mark Robinson. Fort Restructuring co-founder Ken Whittingham. With the COVID freeze on decision-making thawing and restraints on the proper application of debt recovery and insolvency laws removed, practitioners are launching new firms in increasing numbers. Among them are Mark Robinson and Ken Whittingham, who’ve teamed up to form Fort Restructuring, an SME and creditor-focussed practice the pair plan to grow into a…
FerrierSilvia’s Brian Silvia. One of the great challenges for the highly productive professional is resisting the temptation to spread oneself too thinly. There are only so many appointments, directorships and fiduciaries an individual can hold before their capacity to perform is diminished by an escalating volume of tasks, and if that tipping point is either not recognised or seen as another challenge to be surmounted…