Wexted Advisors partner Andrew McCabe. Wexted Advisors founder and principal Joe Hayes. Wexted Advisors’ Andrew McCabe knew he was in a difficult position back in January when he came to chair the second meeting of creditors of the Comlek Group. As the largest single creditor with a claim in excess of $9 million the Queensland Revenue Office (QRO) had already made it clear to McCabe…
The latest judgment to surface from the stew of litigation between the Deputy Commissioner of Taxation (DCoT) and those behind gold refiner Pallion Group reveals that a lone liquidator has been adroitly walking the perception-of-conflict tightrope since 2017. “It was not necessary for the Court to form a view that the liquidator is, or will likely be, in a position of conflict. Rather, it was sufficient that an appearance of conflict exists sufficient…
O’Brien Palmer’s Liam Bailey. Hogan Sprowles Michael Hogan. A certain Sydney insolvency practitioner must be rueing the day he agreed to introduce Scott Keith McCorkell to a business valuer. Or is the day the liquidator’s referrer introduced him to the Mosman ad man the penultimate moment of regret? ” … while the BSA “appears to be “supported” by the Valuation …. there are a number…
Rodgers Reidy WA partner Jack James. Rodgers Reidy WA partner Paula Jones. A group of creditors are hunting three Rodgers Reidy scalps after one of them used their casting vote to get a divisive DoCA over the line at the second meeting of creditors of Wave Projects Pty Ltd. iNO’s mail is that in the event that the deed’s opponents succeed in having the DoCA…
Hogan Sprowles partner Michael Hogan. A decision from the NSW Supreme Court this week shines an unforgiving light on the handling of an administration by two Sydney practitioners who’ve been ousted after a creditor applied to have a deed of company arrangement (DoCA) terminated. “… unusually, in my experience, Mr Hogan indicated in evidence that the Administrators would now not seek to recover remuneration beyond…
Menzies Advisory’s Michael Caspaney. Victorian liquidator Peter Goodin. It’s past indiscretions at 10 paces in the Federal Court this week as interests associated with the Modscape Group continue to do everything they can to prevent the liquidator who had concerns about their 2017 restructure being paid the fees he earned and the expenses he incurred during his tumultuous, 11 month tenure. “Mr Luntz does not…
Mackay Goodwin principal Domenic Calabretta. Mackay Goodwin director Edwin Narayan. Two Sydney practitioners who tried to stall a winding up so they could put a DoCA proposal to creditors have lost the application and the gig after a court refused to adjourn the hearing and sided with the petitioning creditor’s preferred nominee as liquidator. The bid for an adjournment in the matter of The Deputy…
FTI Consulting’s John Park. LMIM receiver David Whyte. FTI Consulting’s John Park is not helping former BDO Partner David Whyte walk away from insolvency without a care, not when there’s a fight over $5 million in adverse costs still to be had. Despite retiring in 2021 Whyte is still in the thick of it in respect of at least one appointment thanks to Park and…
Dye & Co’s Hamish MacKinnon. Dye & Co’s Nicholas Giasoumi. Issuing demands for payment of claims unproven at the time the demands are issued might well be a common practice but Federal Court judge David O’Callaghan has placed it on the endangered list. In his decision in Gadsden v MacKinnon (Liquidator), in the matter of Allibi Pty Ltd (in liq) [2023] FCA 647 Justice O’Callaghan…
BDO partner Shaun McKinnon. Thomson Geer partner Scott Guthrie. Getting a straight answer about DoCA funding can be tougher than shelling an uncooked prawn, as lawyer Scott Guthrie can attest. When the Thomson Geer partner appeared at the second meeting of creditors of stalled aquaculture play Project Sea Dragon Pty Ltd (PSDPL) Guthrie had one overriding concern – if the company was returned to the…