Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. One thing to be said about Hall Chadwick duo Richard Albarran and Richard Lawrence is that they won’t die wondering. Despite indicators suggesting any attempt to recover their final fees and costs from the controversial Tauro Capital appointment should be categorised as heroic, the pair are pressing ahead. To this end a notice of intention to apply…
Cor Cordis partner Jeremy Nipps. i-Prosperity Underwriting receiver David Levi. Back in August 2020 iNO predicted that the liquidators appointed to various entities within the i-Prosperity group might have trouble persuading creditors to approve future resolutions pertaining to their remuneration. As confirmed by the Minutes of the most recent meeting of the i-Prosperity Pty Ltd Committee of Inspection (COI) that forecast was spot on. By…
WLP Restructuring CEO Scott Pascoe. BPS Recovery’s Dave Sampson. When bankrupts are elderly and rely on their accountant son to respond to inquiries from their trustee, there’s always the chance for things to go awry. When that son has previously been found by a judge of the Supreme court of Victoria to have falsified bank statements; deliberately flouted court orders and deliberately given false evidence…
Hall Chadwick’s Cameron Shaw. HLB Mann Judd WA principal Kim Wallman. Liquidators and lawyers are no strangers to the try on and regardless of the ratio of success, it’s a practice very much based on the idea that if nothing is ventured, nothing can possibly be gained. Trying it on in respect of claims for insolvent trading might generally be thought to carry no risk…
The Jirsch Sutherland partners that snagged the Remi Capital Group (Remi) VA last month might’ve had the inside running courtesy of a prior, related party appointment but that didn’t mean they had no competition. As is revealed in the Minutes of the first meeting of creditors, Remi’s voluntary administrators (VAs) Chris Baskerville and Glenn Crisp had to contend with various challengers, a not unusual occurrence…
dVT Group co-founder Riad Tayeh PCI Partners Stephen Michell. dVT Group co-founder Riad Tayeh was yesterday bankrupted by order of the Federal Circuit and Family Court over a $5.4 million debt owed to the creditors of Timbercorp Finance. The 58 year old liquidator from Sydney’s west has spent more than a decade fighting the claim, brought by Timbercorp’s liquidators Craig Shepard and Mark Korda of…
Hall Chadwick partner Kathleen Vouris. Last week saw one of those scenarios – not entirely uncommon – where the chair of a deadlocked meeting has to give effect to the phrase “creditors will determine the future of the Company”. As well as defenestrating the spirit of the term in its purest sense, chairman or chairwomen choosing to use their power to break a deadlock invariably…
Grant Thornton’s Mike McCann. Mackay Goodwin’s Domenic Calabretta. Creditors’ distaste for fees is on full display this week with the release of the Minutes of the May 11, 2022 meeting of CRCG Rimfire (CRCG). The meeting was convened upon the application of creditors seeking to oust incumbent CRCG deed administrators Mike McCann and Said Jahani who are believed by certain creditors to have levied excessive…
PKF partner Glenn Franklin. PKF partner Petr Vrsecky. Following their historic win in the Supreme Court of Victoria last month, two PKF Melbourne partners have secured orders in respect of the court’s finding that a business sale agreement constituted a creditor-defeating disposition and an illegal phoenix transaction within the meanings of ss 588FDB and 588FE(6B) of the Corporations Act 2001. As many iNO readers will…
Mackay Goodwin’s Mitchell Ball. You’d think a liquidator who’s scraped together enough moola to declare a surplus might earn some plaudits from the intended recipients. Many if not most liquidations after all generate nothing more than zero for creditors and hours of unremunerated work for appointees, so any kind of recovery is grounds for relief if not celebration. Expressions of gratitude from certain stakeholders in…