Judgment

Halifax and the maddening complexity of commingling

KPMG’s Phil Quinlan KPMG’s Morgan Kelly. An application for the issue of a “Letter of Request” to the High Court of New Zealand (NZHC) has been ruled “premature” due to the application being ex-parte, but the liquidators of online broker Halifax Investment Services PtyLtd (Halifax) are almost certain to reapply given the unbridled intermingling of client and company funds across Halifax’s Australian and Kiwi operations….

Read More

Court rules receivers’ appointment invalid

Pilot Partners’ Ann Fordyce. Pilot Partners’ Nigel Markey. Almost 20 years have passed since the failure of accountancy aggregator Harts Australasia but shock waves from Steven Hart’s hubristic venture onto the ASX persist and most recently it’s Pilot Partners’ Nigel Markey and Anne Fordyce inadvertently swept up with a court ruling their appointment as receivers of a Hart-related entity was invalid. The pair were appointed…