PwC partner Martin Ford. iNO would like to make it clear at the outset that in respect of aspersions cast on the conduct of PwC partners Martin Ford and Melissa Humann in the winding up of GTW Investments (Aust) Pty Limited (GTW), the creditor doing the disparaging has form. Back in 2020 the Mitris family’s Pacreef Investments (Pacreef), which yesterday intervened in proceedings brought by…
Deloitte’s Sal Algeri. Deloitte’s Robert Woods. When aspiring developers offer units in a trust in exchange for funds from investors, and those investors then sell units in their own sub trusts to less sophisticated sub-investors, it can present any external administrators who might subsequently be appointed with quite the conundrum. “That being said, this proposed distribution method also appropriately and fairly allows for trade creditors…
Rodgers Reidy director Geoff Reidy. Seven years is a long time without a decent drink so liquidator Geoff Reidy will be relieved that a judge has at last granted him leave to imbibe. For the Rodgers Reidy co-founder the court’s approval means he can finally pour himself a pint of fees from the liquidation of Jainti Pty Ltd, a corporate trustee of the Zambito Trust…
PCI Partners director Philip Newman. Was it a Ponzi scheme? Or were the monies invested in the The Edge, the now notorious betting scam operated by incarcerated racing identity Bill Vlahos, held on trust? That is one of the key questions at the heart of a dispute playing out in the Federal Court between Vlahos’s trustee in bankruptcy and at least some of the scores…
Cor Cordis partner Jeremy Nipps. Cor Cordis partner Barry Wight. There’s nothing like offering a discount on fees to cut through the confusion a committee of inspection (COI) might be experiencing as a result of a complex remuneration report. “The Chairperson noted that if information is leaked to third parties without the Liquidators’ prior consent, the Liquidators would take appropriate action where necessary.” Cor Cordis…
John Sheahan of Sheahan and Lock. SV Partners’ Victoria executive director Michael Carrafa. It’s a bankruptcy capable of generating gigawatts of positive publicity for an enterprising trustee. The bankrupt’s a convicted sex offender. The majority creditor is the offender’s victim. A court’s awarded that victim $5.3 million in damages and the bankrupt’s a retired pathology practice manager known for his support of the arts. Anyone…
Dermott McVeigh of Avior Consulting. Over in the West the pool of formal insolvency appointees might more correctly be described as a puddle and when a practitioner accepts a job involving related entities it can result in some entertaining DIRRIs indeed. One example which recently caught iNO’s eye was a declaration from ex-Ferrier Hodgson partner Dermott McVeigh, who on June 8, 2021 appointed himself liquidator…
Lowe Lippmann partner Gideon Rathner. Lowe Lippmann director Matt Sweeney. Insinuations about why PE Capital Nominees (Nominees) liquidator Matthew Sweeny presented for cross-examination this week have attracted a vigorous rebuttal from the Lowe Lippmann director’s counsel. “There were many propositions put to him by Mr Bick that he seemed reluctant to embrace.” Justice Tim McEvoy. In the Federal Court yesterday Ian Martindale KC for Nominees’…
PKF partner Glenn Franklin. Pitcher Partners’ Bryan Hughes. The Darwinian contest for appointments, prestige and WIP continues unabated and in the case of ASX-listed Colortv Ltd, PKF Victoria partners Glenn Franklin and Jason Stone may well be rueing the loss of a plum. The pair were appointed administrators of the MySpace spin-off on August 31 after receiving a call from Melbourne-domiciled referrer Tumblugum Investments Pty…
Lowe Lippmann director Matt Sweeny. Lowe Lippmann partner Gideon Rathner. There’s certainly been private lenders burnt by the flame out that was Victorian developer PE Capital Funds Management Ltd but more recently some of the insolvency practitioners appointed to wind up parts of the group have also felt the heat. In terms of public grilling none can be said to have been put to the…