Discipline

ARITA subpoenaed as Cor Cordis duo biff with insurer

Cor Cordis NSW partner Ozem Kassem. Image courtesy Cor Cordis. It’s probably not every day the chief professional body for registered liquidators and bankruptcy trustees cops a subpoena but it happened recently in regard to former member and Cor Cordis partner Ozem Kassem. Kassem was expelled from Australian Restructuring Insolvency and Turnaround Association (ARITA) in April 2018 for refusing to engage an independent assessor to…


Liquidators fined twice for same independence breach

dVT’s Suelen McCallum. dVT’s Riad Tayeh dVT duo Suelen McCallum and Riad Tayeh haven’t had the best of starts to the year of the sneezing pangolin with the Disciplinary Tribunal of Chartered Accountants Australia and New Zealand (CAANZ) dishing out fines and a professional censure in respect of a breach of the accounting profession’s byzantine APES code. As well as being slugged $8,500 each for…


Deregistered liquidator takes fight to AAT

Trajan John Kukulovski. Chan & Naylor partner Trajan John Kukulovski is not going to be stripped of his license to liquidate without a fight. After a committee convened under S 40-45 of the Insolvency Practice Schedule (Corporations) ruled late last year that Kukulovski’s registration should be cancelled he immediately sought to have the Committee’s decisions reviewed in the Administrative Appeals Tribunal (AAT). iNO says “decisions”…


Trustee referred to Schedule 2 Committee – again

Louise Thomson: first trustee to be referred to disciplinary committee twice. Image Veritas Advisory. With apologies to Oscar Wilde, iNO was recently moved to observe that while being referred to a disciplinary committee once might be considered a misfortune, twice looks like carelessness.  Certainly it will be unfortunate if it transpires that misfortune is behind AFSA’s most recent referral of Louise Thomson to a committee…


Contrition and circumstances save Ball’s bacon

BPS Recovery’s Mitchell Ball. Jump on directors, back-dated documents, low ball fees and a common referrer – a disciplinary committee convened to consider whether liquidator Mitchell Ball should remain registered has benched the BPS Recovery partner for a year but declined to cancel his registration. Making its findings public yesterday the committee said that Ball’s contrition, the calibre of those providing endorsements of his character…


Court agrees to ban liquidator for 10 years

Struck-off liquidator David Iannuzzi. In the end, 10 years on the sidelines looks better than a lifetime ban. So for David Nicholas Iannuzzi, the Sydney liquidator who for the last two years and three months has defended wide ranging allegations of serious misconduct, a decade of ignominy as a struck-off ex-liquidator commenced yesterday. Delivering his long awaited judgement, Federal Court judge Angus Stewart ordered that…


Suspended liquidator referred under Schedule 2

Amanda Young. It’s been almost 12 months since her employment was terminated but challenges continue for suspended liquidator Amanda Young. Last week ASIC referred the former Jirsch Sutherland (Jirsch) partner to a Schedule 2 Disciplinary Committee, alleging misconduct in respect of sections 40-40(1)(f) and (m) of the Insolvency Practice Schedule. Section 40-40(1)(f) deals with an alleged general contravention by a liquidator while (m) involves the…


Liquidator in limbo – what’s with those agreed facts?

KPMG’s Stephen Vaughan. KPMG’s Gayle Dickerson. Back in mid-July liquidator David Iannuzzi was scheduled to endure three days of gruelling questioning in a Federal Court witness box. The examination was to be the start of the penultimate battle in a war of attrition that began back in September 2017 when the Commissioner of Taxation (CoT) filed a 92-page originating process that listed a most egregious…


Sacked liquidator tells CAANZ money was hers

Amanda Young. Former Jirsch Sutherland partner and liquidator Amanda Young has told a CAANZ disciplinary tribunal that almost $200,000 she took from liquidation accounts was owed to her. In June the Disciplinary Tribunal of Chartered Accountants Australia and New Zealand (CAANZ) heard the application of the association’s Professional Conduct Committee (PCC) for an interim suspension of Young’s membership. While Young, who did not attend the…


Liquidator Peter Amos subject of RevLiq scrutiny

Subject to a RevLiq: Amos Insolvency’s Peter Amos. Editor’s Note: iNO reported in an earlier version of this story that AAF funds would be recovered via the Industry Funding Levy. ASIC has since advised that this is NOT the case. After reporting last week on the appointment by ASIC of two Reviewing Liquidators (RevLiqs) iNO has learned that one of the unfortunates under review is…