Grant Thornton’s Phil Campbell-Wilson. Grant Thornton’s Matt Byrnes. Jirsch Sutherland partner Malcolm Howell has branded his removal as liquidator of AFX Group Proprietary Limited “a blatant abuse of the new insolvency laws” after he was replaced at a meeting of creditors last Friday by Grant Thornton’s Matt Byrnes and Phil Campbell-Wilson. The meeting had been convened in accordance with ss 90-15(1) and 90-21(2) of the…
Cullen Group Australia Liquidator Michael Caspaney. Menzies Advisory’s Michael Caspaney must have days when he wonders if providing that consent to act as replacement liquidator on Cullen Group Australia Pty Ltd (CGA) almost four years go was a good idea, and iNO suspects that another such day approaches. Caspaney has been at odds with members of CGA’s Committee of Inspection (COI) and the general pool…
KPMG’s Will Colwell. The liquidators of the failed Octaviar Group have been forced to seek court approval for remuneration dating back to 2018 after falling out spectacularly with the Octaviar Committee of Inspection (COI). Bill Fletcher of Bentleys and Kate Barnet of Olvera Advisors applied in March this year for orders approving $358,731.85 (plus GST) in remuneration for work done from 1 July 2018 to…
Worrells’ Dominic Cantone. Worrells’ Nick Cooper. Worrells’ duo Dominic Cantone and Nick Cooper could shortly be calling their professional indemnity insurer after a Federal Court judge on Monday proposed making orders requiring them to pay costs minus the usual right of indemnification. In Adelaide Brighton Cement Limited, in the matter of Concrete Supply Pty Ltd v Concrete Supply Pty Ltd (Subject to Deed of Company…
Liquidator Schon Condon. A dispute in respect of fees and disbursements has descended to the point where payments over which a liquidator claims a lien are getting the Scott Schedule treatment. The accounting equivalent of death by a thousand cuts, the Scott Schedule will involve a spreadsheet savant undertaking painstaking and pedantic analysis of liquidator Schon Condon’s WIP reports for Azmac Pty Ltd (In Liq)….
Pitcher Partners’ Andrew Yeo. Pitcher Partners’ Gess Rambaldi. Water rights, unending ATO audits and internet scams – Pitchers Partners duo Andrew Yeo and Gess Rambaldi have had quite a time of it in respect of the bankruptcy of Victorian dairy farmer Peter Alan Sandles, and that’s without being heavied by the Inspector General in Bankruptcy. The intriguing tale comes to us via Federal Circuit Court…
Liquidator Schon Condon. Unreasonable and adversarial are terms no liquidator wants used to characterise their conduct and iNO’s mail is that Parramatta-based practitioner Schon Condon will appeal a judgment that’s branded him as both and labelled him a recidivist into the bargain. In the matter of Azmac Pty Limited (in liquidation) (No 2) [2020] NSWSC 363 NSW Supreme Court judge Kelly Rees last week ordered…
McGrathNicol’s Barry Kogan. BDO’s Andrew Sallway. You have to hand it to former Max Brenner Australia voluntary administrator (VA) Barry Kogan and Kogan has to hand it to the company’s current liquidator, Andrew Sallway. At the most recent meeting of creditors of the insolvent confectioner, which has been in liquidation since October 2018, the McGrathNicol partner was on hand to explain to creditors why they…
KordaMentha’s Rahul Goyal. KordaMentha’s Jennifer Nettleton Rahul Goyal and Jennifer Nettleton have been granted liberty to make misery for rival Schon Condon as they ponder whether or not to pursue a special costs order against him. Being the special purpose liquidators (SPLs) of former precious metal refiner ACN 154 520 199 Pty Ltd, the KordaMentha pair recently applied for approval of almost $385,000 in fees…
SV Partners’ Shumit Banerjee There’s nothing like a free plug from a judge and in this instance SV Partners is the beneficiary thanks to the Federal Court’s Jayne Jagot in Frisken, in the matter of Avant Garde Investments Pty Ltd v Cheema [2020] FCA 98. Justice Jagot was ruling on an application by Avant Garde Investments‘ receiver Daniel Frisken, who wanted the company wound up…