O’Brien Palmer’s Chris Palmer. There’s nothing like being in business with your referrer to get an appointee offside with someone and at least some of those connected to ICON Construction (NSW) Pty Ltd (ICON) were recently in a flap about Chris Palmer. Following the granting of consent orders in the NSW Supreme Court the O’Brien Palmer principal and colleague Liam Bailey replaced ICON administrator Ben…
Jones Partners’ Alan Topp. Jones Partners’ Bruce Gleeson. We wouldn’t want iNO readers to think this is the Jones Partners edition. It’s just a coincidence. Anyways, Jones Partners’ Alan Topp and Bruce Gleeson have had some luck after mistakenly paying themselves unapproved remuneration with a judge agreeing to retrospectively approve the unauthorised fees. The details in respect of this uncommon demonstration of leniency are contained…
Aston Chace’s Vincent Pirina. Aston Chace principal Steve Naidenov. There’s an interesting issue in the recent judgment of NSW Supreme Court Justice Ashley Black, who’s rejected efforts to prevent liquidators from deriving a profit via work done by employees of two incorporated accounting firms with which the liquidators either are or were associated. In the matter of Karim Pty Ltd (in liq) [2020] NSWSC 1603…
O’Brien Palmer’s Daniel Frisken. Never presume to position yourself between the Commissioner of the Australian Federal Police and an allegedly ill-gotten dollar. As O’Brien Palmer’s Daniel Frisken has discovered, and as is detailed in the matter of The Commissioner of the Australian Federal Police v Pharmacy Depot Hurstville Pty Ltd (in liq) (No 2) [2020] NSWSC 1571 the outcome is unlikely to prove favourable to…
FTI Consulting’s John Park. LMIML receiver David Whyte. If recently retired BDO partner David Whyte ever thought the finalisation of his work as receiver of LM Investment Management Limited (LMIML) would be uneventful, then FTI Consulting’s John Park has well and truly disabused him of that notion. In recent months Park has, as liquidator of LMIML, challenged Whyte’s remuneration claims, with the most recent challenge…
In: PKF’s Paul Allen. Out: Hall Chadwick’s Richard Lawrence. The torment endured by Hall Chadwick pair Richard Lawrence and Richard Albarran these last 18 months came to an end this week when creditors of Tauro Capital (In Liq) turfed them out to make way for Paul Allen and Jason Stone from PKF. iNO’s agents in Melbourne reported that Tauro creditors, some of whom had been…
No trust asset indemnity ex ante – Hogan Sprowles’ Partner Chris Sprowles. Hogan Sprowles‘ Chris Sprowles‘ must have had the confidence meter on full recently when he sought priority over contested trust assets to ensure he was indemnified for undertaking a public examination, to be conducted after he obtained the indemnity. As is revealed in Structum Pty Ltd v CWCN Pty Ltd [2020] NSWSC 1314…
Jirsch Sutherland’s Malcolm Howell. While nobody’s giving much away it would seem that the liquidation of AFX Group Proprietary Limited is quite the cluster___. “Messy” was how one insider described the related party-laden morass to iNO yesterday and no doubt Jirsch Sutherland partner Malcolm Howell, who is owed more than a quarter of a million in fees, would agree. As iNO previously reported Howell was…
Aston Chace’s Ian Niccol. Aston Chace’s Vincent Pirina. A court has heard that the coffers of failed online travel agency Fly365 were “flush with cash” only days before the company was placed into liquidation, plunging the travel plans of thousands into chaos and leaving creditors chasing up to $30 million in debts. The revelations emerged during an ex-parte application in the Federal Court yesterday brought…
BRI Ferrier’s James Koutsokos. BRI Ferrier’s David Coyne. BRI Ferrier’s James Koutsoukos and David Coyne have extracted some hard won joy from the Supreme Court of Victoria in their ongoing battle with a Japanese beverage can manufacturer over remuneration. In Re Barokes Pty Ltd (in liq) [2020] VSC 555 Associate Justice of Victoria’s Supreme Court Julian Hetyey this week sided with the liquidators in their…