Hamilton Murphy’s Stephen Dixon. Who’d be a landlord? That’s the question that came to mind as iNO read about Centuria Property Funds No 2 Limited (CCPF) in its battle with a tenant who didn’t pay which then became a battle with the insolvency practitioner appointed the day after the tenant failed to comply with a court ordered deadline for payment to CCPF of $1,037,289.31c. “Regardless…
PwC’s Simon Theobald PwC’s Robert Ditrich. You might have thought that when Perth-based litigation funder GT Capital Partners imploded last year with its founders exchanging aspersions at 10 paces, whoever was appointed to clean up the mess would have their work cut out for them. Well as it turns out, a DoCA’s been effectuated, new directors have taken over and the Supreme Court of West…
O’Brien Palmer’s Daniel Frisken. McGrathNicol Partner Kathy Sozou. In the matter of Xpress Transport Solutions Pty Ltd (Receivers and Managers Appointed) (Administrator Appointed), Federal Court judge Elizabeth Cheeseman has provided a handy guide for external administrators on how not to proceed with an application for an extension of the convening period. O’Brien Palmer partner Daniel Frisken also deserves special mention. “The approach taken by the…
McGrathNicol partner Keith Crawford. McGrathNicol partner Matthew Caddy. Proceedings in the Federal Court yesterday aptly demonstrated the dangers insolvency practitioners face when accepting appointments as administrators in the middle of intractable shareholder disputes. At a hearing before Federal Court judge Tim McEvoy in Melbourne, counsel for the administrators of Agrifunder Holdings Pty Ltd appeared seeking approval for Agrifunder to enter into a deed of refinance…
IRT Advisory’s Andrew Poulter. Following publication of lurid details involving sham arrangements, straw directors and shadowy puppet masters, iNO asked the liquidator responsible for uncovering the imbroglio if he’d reported his findings to ASIC. As it turns out, he had. IRT Advisory’s Andrew Poulter lodged a section 533(1) report with ASIC in January 2018 in respect of what smelled like the liquidation of convenience of…
Hall Chadwick’s Richard Albarran. Hall Chadwick partner Kathleen Vouris. Accepting appointments as administrators can be fraught if it comes after winding up proceedings have commenced. Get the money up front at all costs must be the mantra, but in the following tale iNO can only speculate as to whether Hall Chadwick pair Richard Albarran and Kathleen Vouris were paid what they were promised before they…
The late Sam Henderson. Insolvency Options principal Darren Vardy. Recently deceased insolvency practitioner Sam Henderson was seemingly in the thick of things to the very end, with a Federal Court judgement detailing meetings the former Jirsch Sutherland partner had with a liquidator in the weeks before he was found dead at a North Sydney hotel on April 4. “I was satisfied that there was good…
Hamilton Murphy partner Trent Hancock. Liquidators with no funding will be relieved to learn that entering into a contract to assign a chose in action is not invalidated simply because it’s the assignee applying for court approval rather than the liquidator. The question came before NSW Supreme Court Corporations judge Ashley Black yesterday after two parties turned up seeking leave to be heard in opposition…
PKF’s Mark Roufeil. PKF’s Brad Tonks. Being accustomed to “scurrilous”, the description of iNO’s output as “analytical” was sure to rouse your correspondent from his usual aspect, slouched in the corner of court room 8C during the weekly hearing of the NSW Supreme Court’s corporations list. This is particularly so when the individual using the more complimentary term is the Corporations List judge, and so…
BRI Ferrier partner Peter Krejci. “Transcript! I must have transcript,” the appeals court president might well have thundered. When appellant court judges are delivered a white book unfit for a dog’s breakfast and receive material in their chambers on the morning of the hearing that hasn’t been served on the respondent well, tempest can be reliably forecast. And inevitably in such circumstances, a bench’s collective…