iNO Priority Cor Cordis partner Barry Wight. Cor Cordis partner Rachel Burdett. It may be an unspoken maxim that fee approvals coming from creditors are the best approvals but if there is an example of an exception proving a rule superior to that which was recently granted to a pair of Cor Cordis partners iNO would like to hear of it. The occasion for this…
McGrathNicol chairman Jason Preston. McGrathNicol partner Jason Ireland. It’s likely to be one of the highest profile appointments of 2021 so it was no surprise that when Westpac approached the Federal Court last week seeking to have provisional liquidators appointed to Forum Finance Pty Limited (Forum), Justice Michael Lee found himself presented with aspiring appointees from two of Australia’s most prominent insolvency firms. Westpac wanted…
PKF partner Brad Tonks. PKF partner Mark Roufeil. Brad Tonks and Mark Roufeil are getting grief over their decision to defend a set of proceedings whilst appointed receivers of Sahab Holdings, and it’s a species of grief that would not be unfamiliar to insolvency practitioners who’ve had to deal with assets being fought over by families. On Monday Robert Glasson, counsel for the PKF pair…
McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Wexted Advisors’ Joe Hayes. There cannot be too many insolvency practitioners who first worked on an external administration as a graduate accountant and almost 20 years later are preparing to deregister the same entity as partner. Kathy Sozou can lay claim to imminent inclusion in this elite group. The revelation of the McGrathNicol partner’s trauma unit-to-crematorium involvement in Black…
Hamilton Murphy principal Richard Rohrt. Hamilton Murphy’s Stephen Dixon. Hamilton Murphy’s Richard Rohrt and Stephen Dixon have a Ferrari to sell now that they’ve been appointed receivers and managers over the property, assets and undertaking of The Rose Guerin and Partners Trust but getting paid for their labours won’t be straightforward after a judge ripped ’em a newie in respect of their “totally disproportionate” fees….
Pitcher Partners’ Andrew Yeo. Andrew Yeo has copped some judicial stick for opinions expressed in an affidavit the Pitcher Partners’ rain maker filed in defence of proceedings brought by Norm Carey, founder of the long since collapsed Westpoint Property Group. In a recent judgment WA Supreme Court Master Craig Sanderson said that Yeo should have kept his views on the legitimacy of Carey’s action to…
McGrathNicol’s Jason Preston. McGrathNicol’s Kathy Sozou. McGrathNicol’s Jason Preston is drawing excruciatingly close to concluding the two decades long winding up of the HIH insurance group and as has emerged this week, the end can’t come soon enough with hefty administration costs termiting what funds remain. “We have obtained orders to allow the destruction of the records 90 days after deregistration of the head company…
Smith Hancock partner Mike Smith. Smith Hancock partner Rommel Alfonso. A proposal that would’ve seen liquidators Mike Smith and Erwin “Rommel” Alfonso paid $85,275.07 in satisfaction of exisiting and future remuneration claims and costs has been crushed after a judge refused to terminate a winding up despite the applicant’s offer to discharge the company’s debts. As is evident In the matter of Kele Group Holdings…
KordaMentha’s Andrew Knight. KordaMentha’s Craig Shepard. Ahead of the release of their 1500 page report into the failed Grocon Group, KordaMentha partners Craig Shepard, Andrew Knight and Mark Korda updated their Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) to reflect $100,000 in fresh indemnities received. The administrators, who have recommended creditors vote in favour of a deed of company arrangement (DoCA) being proposed by…
Opinion Incoming Small Business Ombudsman Bruce Billson. Small Business Ombudsman and liquidator’s bane Kate Carnell. Insolvency practitioners can but hope that the persecution will end now that former Federal Minister of Small Business Bruce Billson has been anointed to replace the inquisitorial Kate Carnell as Australian Small Business and Family Enterprise Ombudsman (ASBFEO). Billson did not return calls yesterday to explain how or even if…