Aston Chace co-founder Steve Naidenov. Jones Partners’ Bruce Gleeson. Some exads are like centrifuges. Run them long enough and all manner of ejecta is disgorged. The liquidation of MK Floors (NSW) Pty Ltd is a case in point. As some iNO readers will recall, the MK Floors administration distinguished itself early on when the two appointees were subjected to public examinations funded by the FEG…
Worrells partner Jason Bettles. Editor’s Note: On Friday, August 18, 2023 Justice Brigitte Markovic of the Federal Court of Australia dismissed ASIC’s case against liquidator Jason Bettles and ordered the regulator to pay Bettles’ costs. While ASIC landed no killer blow yesterday Worrells partner Jason Bettles could not be said to have exited the Federal Court witness box unburdened by any remaining questions in respect…
Agility Law Group managing director Levi Smouha. Cor Cordis partner Sam Kaso. There was always the likelihood with a collapse of the scale of Remi Capital Group that some of those exposed to the $125 million failure would be of the secured kind. In the case of Remi group entity Remi (Tarneit) Pty Ltd, the appointment of Cor Cordis partner Sam Kaso as receiver on…
EY’s Sam Freeman. EY’s Colby O’Brien. Remember the stick those administrators appointed to Pindan Group last year copped after it was revealed – by iNO – the extent of the relationships the VAs’ firm EY has with Pindan, its immediate owner Oxley Sparkle and ultimate parent, Oxley Holdings Limited? Plenty was how much and plenty of iNO readers thought that their being able to continue…
Cor Cordis Melbourne partner Bruno Secatore. Cor Cordis partner Neil Cussen. You have to wonder why successful, experienced practitioners accept appointments as administrators when they know there’s winding up applications afoot, other entities in the group are already in liquidation and according to their DIRRI, no indemnity in the offing. Is it evidence of a healthy appetite for risk? Or the desperation that prevails in…
Deloitte’s Sal Algeri. Deloitte partner Jason Tracy. Immaterial. Every engagement. Every one of the $560,000-odd dollars Deloitte Australia billed and received from the insolvent Probuild construction group in the last two years, if not six months. All of it. Immaterial. So at least sayeth Deloitte partners Sal Algeri, Jason Tracy, David Orr and Matt Donnelly in their February 23, 2022 Declaration of Independence, Relevant Relationships…
Proposed Salt Lake Potash Limited Special Purpose Administrator Dermott McVeigh of Avior Consulting. So you concede your appointment might appear to be less than entirely free of conflict, that regulators and others are scrutinising the circumstances of said appointment and your solution is to apply to a court to appoint a special purpose administrator (SPA), whose job will include clearing you (hopefully) of any conduct…
EY’s Sam Freeman. EY’s Colby O’Brien. Two of EY’s finest are not letting any impending ARITA sanction impede progress of their work as administrators and liquidators of Pindan Group, the West Australia-based construction and property group that availed itself of EY’s reassuringly familiar services in May of this year. Last month in the Supreme Court of West Australia Sam Freeman, Colby O’Brien and Vincent Smith obtained various grants…
O’Brien Palmer’s Daniel Frisken. Hall Chadwick partner Sule Arnautovic. (Image: Hall Chadwick) As iNO readers are well aware, what the official ASIC record shows and what actually is are often not immediately reconciled. Up until Tuesday this week, the ASIC companies database listed property developer and aspiring mining magnate Ibrahim Chambour as a director of ICA Mining, along with one Anthony Ford. But when we…
EY’s Sam Freeman. EY Partner Vince Smith. There’s been plenty of comment about the decision by a trio of EY restructuring partners to consent to appointments as voluntary administrators (VAs) of failed Perth-based construction group Pindan. Some or other part of EY has spent plenty of time in Pindan’s plethora of pockets these last few years and Pindan’s parent has also engaged EY to sniff…