AS Advisory’s Andrew SchwarzAS Advisory’s Ben CorbinVictorian practitioners Andrew Schwarz and Ben Conrad are in the middle of an administration that will likely evolve into one of those stories liquidators tell each other about the joys of material omissions, and being caught between difficult directors and obstreperous creditors.The yarn – as told in MCCA Asset Management Ltd v Kamata Homes Pty Ltd (admins apptd) [2019]…
dVT’s David Solomons. dVT’s Antony Resnick.To say it’s been a while would be to criminally underestimate the time it’s taken for dVT’s Dave Solomons and Antony Resnick to be confirmed in their appointment as administrators of the Carzapp (CZA) group of companies.The pair were appointed in August 2017 but by April 2018 a shareholder who was also one of the three directors of CZA had challenged the…
FTI Consulting’s Joanne Dunn. FTI Consulting’s Joanne Dunn may well be ruing the day she agreed to an appointment as liquidator of engineering firm Intelara.Prior to her appointment in December 2015 pre-insolvency advisors had persuaded the Intelara directors to undertake what courts say was described to the directors as a “legal phoenix”.The subsequent involvement of the FEG Recovery Unit – which had Palisade Business Consulting’s…
BRI Ferrier’s Brian Silvia.BRI Ferrier’s Brian Silvia had a win in the Supreme Court of Victoria earlier this month when a judged rejected claims that he was a “dirty expert” and that a report he authored for one side in a dispute among members of Melbourne’s wealthy Auswild family should be ruled inadmissible. In mid-2013 Silvia had been engaged by several members of the Auswild…
The corporate cop has secured a much needed win after two pre-insolvency advisers pleaded guilty to money laundering.In a statement yesterday ASIC said that Stephen O’Neill of Port Melbourne, Victoria and John Narramore, of Main Beach Queensland had both pleaded guilty in the Brisbane District Court to one charge of dealing in the proceeds of crime.The hapless client who engaged them – Cap Coast Telecoms…
dVT’s Mark Robinson.PwC’s Daniel Walley.It’s been a long time coming but the insolvent trading claim against directors of Reed Construction Australia (RCA) kicked off in the NSW Supreme Court yesterday and reunited in the court were two members of the PPB alumni.Readers may recall that former PPB favourite son Mark Robinson was appointed by the courts to wind up RCA back in 2012. He subsequently…
Squire Patton Boggs’ Amanda Banton.An interesting stoush has broken out between Arrium deed administrators (DAs) KordaMentha and Arrium shareholders seeking to publicly examine former director Colin Galbraith.Back in May a Registrar of the NSW Supreme Court issued an examination summons to Galbraith on the application of two shareholders represented by Amanda Banton from Squire Patton Boggs (SPB).Banton’s involvement indicates there’s likely a litigation funder lurking…
Balance Insolvency principal Tim Cook.An appeal against a judgment that went the way of FTI Consulting’s John Park and Kelly-Anne Trenfield kicked off in the Federal Court yesterday and there’s plenty to ponder as it pertains to Citadel Finance Corporation (CFC) and its labour hire subsidiary Action Scaffolding & Rigging Pty Limited (AS&R).A financier of its own operating entities, CFC is the appellant in yesterday’s…
BBY liquidator Stephen Vaughan.The brain-contorting complexity of the BBY Limited liquidation is back on display after liquidators Stephen Vaughan and Ian Hall sought to retreat to a simpler regime for the recovery of costs.The simpler regime was first put in place in 2015 by Justice Paul Brereton, who has since fled to the Court of Appeal.At the time the regime was seen an interim one…
Glenn Livingstone. Image courtesy Ferrier Hodgson. In the wake of the NSW Supreme Court’s recent refusal of an application seeking to replace incumbent liquidators comes another such attempt involving a builder feeling bilked by a developer with an insolvent SPV. The practitioner in the middle this time is Adam Farnsworth, who as an aside recently parted company with Adam Shepard to form Farnsworth Carson with…