Discipline

Kordas quits after ARITA intervention

Coincidences, like hurricanes in Hampshire, hardly ever happen so what is to be made of the missive from the Australian Restructuring Insolvency and Turnaround Association (ARITA) about independence and indemnities in light of the almost simultaneous relinquishing of the North West Crane Hire administration by Korda Mentha? On Monday ARITA advised members it had observed an ominous trend. Practitioners appointed as administrators were increasingly accepting…


Ex-ARITA member fomenting dissent

A curious document landed on SiN’s desk yesterday, one calling for wholesale reform of the Australian Restructuring Insolvency and Turnaround Association (ARITA). The document was authored by Crouch Amirbeaggi principal Nicholas Crouch. He’s a former ARITA member and SiN understands the parting was not amicable. In the document sent to 14 registered liquidators and barrister Geoff McDonald, Crouch proposes that ARITA offer its services to members…


Authorities are stepping up raids connected ti illegal phoenix activity

More phoenix raids imminent

There would not have been a drooping eyebrow among the 200-odd attendees present on Wednesday afternoon at Brisbane Town Hall where ARITA was holding its Queensland state conference. As part of a panel discussion titled: “Pre-insolvency shenanigans – arising from the ashes”, the ATO’s Michael Seddon nonchalantly revealed that more raids by the multi-agency anti-phoenix taskforce were imminent. Readers will recall  – it was only…


letter to judge labelled "extraordinary"

Judge labels liquidator’s letter “extraordinary”

It’s not often that a liquidator writes to a judge requesting that the judge discontinue proceedings in which the liquidator is in control of the plaintiff. It’s probably even rarer for the judge to publish the letter. But it’s happened, courtesy of a judgment from acting Supreme Court Justice Reg Barrett and an unfortunate epistolary impulse indulged by liquidator Andrew Wily. Typically the circumstances giving…


ASIC warning to directors facing wind ups

One wonders what the Hruz’s of Albury think of the latest initiative to stamp out unscrupulous insolvency advisers. Josef and Yulia Hruz are the directors and owners of John Doe Pty Ltd, an inactive-seeming entity that’s not filed a form since 2007 according to company records. John Doe Pty Ltd also happens to be the name the Australian Securities and Investments Commission (ASIC) used as an example in a letter it…


Struck-off liquidator appeals registration

It’s no surprise that terms such as: “beggared belief” appear amongst the findings of the executioner of auditors and liquidators, which has published its reasons for cancelling the registration of Randall Clinton Joubert more than two months after imposing sentence. A sole practitioner based in Elizabeth Street, Sydney, Joubert was hauled before the Companies Auditors and Liquidators Disciplinary Board (CALDB) in July 2015. The hearing…


Trustee barred from using conflicted lawyer

It’s not often that a judge tells a bankruptcy trustee to hire a different lawyer. However in the case of Leroy versus Mogilevsky, Hall Chadwick partner Paul Leroy has suffered just such a fate. Last week Federal Circuit Judge Michael Jarrett ordered that Leroy be restrained from retaining Gold Coast lawyer Jeremy Worcester of Worcester & Co as his legal representation in the matter. The…


liquidator fails to measure up

Judge clouts Dinoris over duties

The Federal Court has ruled that Vincents partner Peter Dinoris failed in his duties by not contacting the director who appointed him voluntary liquidator of her company, despite the director transferring $236,500 from the company’s bank account just days prior to his appointment. In a judgment handed down last week, Federal Court Judge John Reeves found that “Mr Dinoris contravened s 180(1) of the Corporations Act by failing…


BRI Ferrier replaced after appointment imbroglio

Geoff Grainger and Brian Silvia are licking their wounds after fumbling an appointment that’s seen the BRI Ferrier pair ditched in favour of Sule Arnautovic and Andrew Spring from Jirsch Sutherland. The awkward detail is contained in the judgement of Federal Court Justice Jayne Jagot, who heard an application from Grainger and Silvia seeking an order to validate their appointment as voluntary administrators of A.C.N….


KPMG Brisbane partner expelled from ARITA

THE CVs of KPMG Brisbane’s two most senior insolvency professionals are sporting bruises after the Australian Restructuring Insolvency and Turnaround Association (ARITA) announced this week that it had terminated their membership. In a short statement ARITA said that Ian Hall and Chris Giddens have been expelled and their names expunged from the ARITA Register for their refusal to comply with penalties applied as a result…