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Discipline

Plutus raid uncovers PAYG ex-fraudster

Accountants, Discipline 7 June 2017

Raided Plutus accountancy has staffer with PAYG form

The Parramatta accounting firm raided last month as part of the alleged multi-million dollar Plutus Payroll fraud boasts a staff member intimately acquainted with the consequences visited upon accountants who pinch the taxman’s PAYG. Scahill & Co’s business development manager Darren Kallen, 51 (pictured) was formerly known as Darren Allen Kay, (pictured below) one-time registered auditor and partner at Baulkam Hills district accounting firm Fleming Moynihan &…

Banned liquidaotr guilty on one FEG fraud charge

Discipline, Liquidators, Regulation/Legislation 26 May 2017

Banned liquidator not guilty of attempted FEG fraud

In the same month that the Federal Government released a consultation paper seeking input on ways to reduce FEG fraud, a jury in the Victorian County Court has found a suspended liquidator not guilty on 15 charges of attempting to con payments out of the scheme using false employee records. The trial of Victorian Andrew Leonard Dunner, who in 2013 had his liquidator’s registration suspended…

Fraud bust likely to flush out more accused.

Accountants, Discipline, Regulation/Legislation 19 May 2017

Insolvency referrer charged in ATO fraud bust

There’s going to be some boot quaking in insolvency town following yesterday’s spectacular ATO fraud bust. One of those those hauled before court as an alleged party to the grand conspiracy is none other than Jason ‘Jay’ Onley, the one-time Winter Olympian who cut his insolvency teeth at Fox Syme’s 180 Corporate before heading out to make his way as an advisor and referrer. Onley’s…

Notice to produce scuttled by judge

Discipline, Liquidators, Regulation/Legislation 10 May 2017

ASIC scuttles liquidator’s production notice

Quitting as a liquidator has yet to earn ArmstrongWily principal Andrew Wily a break. His attempt last month to resign as liquidator from 35 companies drew correspondence from ASIC querying whether the route by which he sought to convene the meetings of creditors might’ve invalidated his retirements and this week the regulator scored a win in the opening exchanges of its fight with the keen…

Wily's resignation problematic for replacements.

Discipline, Liquidators, Regulation/Legislation 28 April 2017

ASIC intervenes on Wily resignations

SiN cannot imagine it was intentional but ex-liquidator Andrew Hugh Jenner Wily has – in engineering an 11th hour resignation from 35 creditors voluntary liquidations – cast Macquarie Gordon’s Gus Gordon and Michael Hird adrift on the sea of limbo. Between April 3 and April 6 Wily, whose liquidator’s registration expired on April 24, lodged 35 notices under section 499(5) of the Corporations Act, advising creditors…

Appointments offloaded en masse

Discipline, Liquidations, Liquidators, Social/Professional 12 April 2017

Wily offloading appointments en masse

When one is defending an application which seeks to have a court enquire into your conduct, dumping insolvency appointments might signal a lack of faith in one’s defence. Unless perhaps you’re preparing to retire? And as it happens, ArmstrongWily principal Andrew Wily finds himself in just such a predicament. The keen angler and pig shooter is currently defending an action brought by the Australian Securities and Investments…

Trustee's carte blanche attitude criticised

Discipline, Judgment, Trustees 3 March 2017

Judge admonishes trustee for ‘carte blanche’ attitude

The untidiness continues in relation to the bankrupt estate of Leslie James Young with a Federal Court judge this week dressing down Veritas Advisory’s Louise Thomson for what the judge labelled a carte blanche attitude. That said, the judge also declared that the trustee “behaved appropriately” in seeking to minimise costs and maximise returns for creditors. In the immortal words of chain gang escapee cool hand Luke, “what we…

Corpoate Guardian trawling for buisness

Discipline, Regulation/Legislation 1 March 2017

Corporate Guardian differentiating itself from trawlers

With work scarce for many firms all avenues are being explored and major mid-tiers like Jirsch Sutherland are apparently not above scouring the lists of winding up applications for opportunities. What’s interesting is the language employed in communications to the recipients of the dreaded wind-up notice. See an excerpt from the letter below. A letter came across SiN’s desk this week from Jirsch subsidiary, Corporate Guardian addressed to…

Phoenix target Armstrong and Shaw wound up

Accountants, Discipline, Liquidators 17 February 2017

Advisory at centre of Phoenix probe wound up

Worrells’ Adelaide partner Nick Cooper has moved to wind up a company targeted by the multi-agency Phoenix Taskforce in a series of raids  last year. On February 8 in the Federal Court of South Australia orders were made appointing Pitcher Partners Andrew Yeo and Gess Rambaldi liquidators of Armstrong and Shaw Pty Ltd, one of a group of companies connected to controversial pre-insolvency advisor Philip…

ASIC inquiry

Discipline, Liquidators, Regulation/Legislation 10 February 2017

ASIC inquiry into Wily and Hurst branded “Kafkaesque”

Subversive utterances were overheard in the corridors of law yesterday, after ASIC’s application for an inquiring into the conduct of liquidators Andrew Wily and David Hurst ran into resistance at the first directions. The moment he was able, Wily’s barrister Farid Assif leapt to his feet and attacked the form and process of ASIC’s application, demanding it be simplified and insisting that no order could…