Liquidator Gavin Moss outside the NSW Supreme Court this week. Never has iNO regretted scheduling a dental appointment more than when an hour of root canal on Wednesday morning led to us missing the moment liquidator Gavin Moss was alleged to have knowingly misled a court. Stoically endured and lavishly anaesthetised discomfort aside, the making of this allegation before NSW Supreme Court judge Kate Williams…
KordaMentha’s Andrew Knight. KordaMentha’s Craig Shepard. Ahead of the release of their 1500 page report into the failed Grocon Group, KordaMentha partners Craig Shepard, Andrew Knight and Mark Korda updated their Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) to reflect $100,000 in fresh indemnities received. The administrators, who have recommended creditors vote in favour of a deed of company arrangement (DoCA) being proposed by…
dVT’s Riad Tayeh dVT Group’s Riad Tayeh has plenty on his plate in this, the second year of the 21st century’s first pandemic. For starters the mid-tier firm’s co-founder may have to facing potentially ruinous recovery action courtesy of Timbercorp liquidators Craig Shepard and Mark Korda after the KordaMentha duo extracted a favourable decision from Victorian Supreme Court last month. As a consequence, Tayeh and…
Brooke Bird’s Robyn Erskine. The temperature in Federal Court 19B went from too hot to too cold between last Friday and Monday this week but for the examinees summonsed to appear by liquidator Robyn Erskine, the chill did little to improve their recall. Central to the Brooke Bird principal’s investigation into North Shore Property Developments Pty Ltd are events that go back to 2014 but…
Deloitte defector Neil Cussen joins Cor Cordis You have to wonder how it is that Deloitte, which received the largest transfusion of fees in Australia in recent years courtesy of the Virgin appointment, can be haemorrhaging partners? That very question was put to iNO during a conversation with someone close to the recent move by liquidator and Deloitte veteran Neil Cussen to move to Cor…
11th hour sword fall – Greyhouse Partners’ Ben Verney. Sydney based insolvency practitioners Chris Palmer and Liam Bailey supplanted Melbourne counterpart Ben Verney late last year after court orders were agreed less than a day before Verney and the creditors wanting him gone were due to put their conflicting arguments before NSW Supreme Court Corporations judge Ashley Black. On Monday December 28, short minutes of…
CJG Advisory’s Mathew Gollant. Melbourne-based IP Mathew Gollant must possess a fair appetite for excitement given his acceptance of an appointment as liquidator by creditors voluntary liquidation (CVL) of ACN 081 014 208 Pty Ltd, which until September 30, 2020 went by the name Millennium Electronics Pty Ltd (Millennium). iNO’s arrived at this conclusion after reading the judgment of South Australian Supreme Court judge Mark…
KordaMentha’s Andrew Knight. As flagged by iNO this week, insolvency practitioners from KordaMentha have been appointed voluntary administrators of multiple entities within the Grocon building and construction group. In a statement this morning KordaMentha said Andrew Knight, Craig Shepard and Mark Korda of KordaMentha Restructuring were today appointed administrators to 39 Grocon Group companies. Knight said the administrators were not appointed to the companies associated…
FTI Consulting’s John Park. FTI Consulting’s Kelly Trenfield. It’s been almost a week since media reports emerged declaring that builder Grocon had “put” its troubled construction division into administration, or that directors had “called in administrators”. As of this morning however no formal insolvency appointment has been made, either as voluntary administrator (VA) or receiver. There’s little doubt a restructure if not a formal appointment…
Auxilium Partners’ Bob Jacobs. There will be jubilation in certain quarters following the sale last week of Pluton Resources’ iron ore operation on Cockatoo Island, located in the aptly named Buccaneer Archipelago off West Australia’s northern coast. Whilst Pluton receiver and Auxilium Partners principal Bob Jacobs can claim credit for succeeding where a procession of his predecessors failed, KordaMentha’s John Bumbak and Janna Robertson (now…