KordaMentha’s Rahul Goyal. KordaMentha’s Jen Nettleton. KordaMentha’s Jen Nettleton and Rahul Goyal are cleared to commence bankruptcy proceedings against high profile executive coach Peter Hislop after a court ordered that he pay the pair more than $1.6 million. Hislop’s company Potentia3 Pty Ltd was facing liquidation back in May 2015 after defaulting five times on repayment arrangements it had entered into with the Australian Tax…
Victorian liquidator Ross McDermott. Victorian liquidators Ross McDermott and John Potts have had a rugged time of it of late. On March 1 INO reported how the pair had fallen foul of their funder, the Federal Commissioner of Taxation (Commissioner) in relation to their pursuit of $22 million said to be owing in relation to an uncommercial and unreasonable director-related transaction involving the company in…
Vincents’ Nick Combis. Vincents partner Nick Combis has found himself on the wrong side of an adverse costs order after the creditor he was pursuing persuaded a judge that her preferences were protected. In Queensland Quarry Group Pty Ltd (In Liquidation) & Anor v Cosgrove [2019] QDC 26 Combis, in his capacity as liquidator of QQG, sought to retrieve more than $350,000 received by a…
SV Partners’ Darren Vardy and Jason Porter have been stung by an adverse judgement that could require them to find at least $200,000 without recourse to the assets of SPC & Co Pty Ltd, the company to which they were appointed liquidators via CVL in August 2017. Much of the detail in this protracted fight for fees by barrister Ventry Gray can be gleaned from the judgment…
There’s a saying that the margin’s in the mystery. The more complex the offering the easier it is to conceal fees and gouges. And nobody wants to admit they haven’t a clue how the investment they’ve backed nets a dime. Now whilst a trustee in bankruptcy is often of prudent character he or she might consider invoking maxims about margins and mystery when contemplating whether…
The dispute around control of Rushcutters Bay eatery Bar M – formerly known as Bar Machiavelli Pty Ltd – has Hurst Recovery’s David Hurst in court urgently seeking to unwind transactions that could ultimately see him liable to pay a costs order for at least $60k and other as yet unallocated costs. At the same time, those who referred him the job – restaurateur Paola Toppi and…
Deloitte’s David Mansfield has come away with a shiner from a challenge he brought on in the District court of NSW after an earlier bout left him bloodied and leaking costs. In December 2017 a NSW District Court judge ordered Mansfield to pay the costs of a defendant in proceedings he’d brought against directors of the Camperdown Bowling & Recreation Club Ltd (CB&RC). Mansfield was appointed…
Over in West Australia three of Hall Chadwick’s movers and shakers have extracted an interesting decision in regard to exempting priority creditors from DoCAs from newly gowned Justice John Vaughan of the Supreme Court of the Sandgropers. In Richard Albarran, Brent Kijurina and Cameron Shaw as joint and several administrators of Coopers & Oxley Builders Pty Ltd (Administrators Appointed) [2018] WASC 161 (29 May 2018) the VAs…
Some of the profession’s most pressing questions will be explored and potential solutions debated at the inaugural Association of Independent Insolvency Practitioners (AIIP) Conference to be held next month in Canberra. Questions around safe harbour; pre-packs; litigation funding, law reform and what the future might have in store will all be canvassed at the Disruption in the Insolvency Industry Conference on June 28 and 29…
Since Clive Palmer applied on the twelfth of April to remove those pesky special purpose liquidators (SPLs) from Queensland Nickel (QN), a Niagara of documentation has been filed. Applications, affidavits, submissions etc. Against this torrent the SPL’s Steve Parbery and Michael Owen of PPB Advisory have filed a truly voluminous reservoir of rebuttals in their defence. SiN’s been wading through the flood. Palmer is arguing…