Judgment

ProvLiqs appointed VAs but denied scope to tender

Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. Hall Chadwick’s Richard Albarran and Richard Lawrence have had to settle for a more than usually restrained role as administrators after Victorian Supreme Court Judge Jim Delany restrained them from conducting any tender or sale process of the assets of Bluechain Pty Ltd. Albarran and Lawrence were appointed provisional liquidators of the company in February following an…


dVT founder retiring with KordaMentha in pursuit

Retiring – dVT Group founder Antony De Vries dVT Group’s Antony De Vries is preparing to bow out after a long career as one of western Sydney’s bigger insolvency wheels but any expectation of a tranquil retirement will likely be disappointed in the short term at least. In their capacity as the liquidators of the failed tax scam Timbercorp, KordaMentha partners by Craig Shepard and…


FOGO liquidator resisting conflict conniptions

Chifley Advisory’s Gavin Moss Further details of the bid to remove Gavin Moss as liquidator of Fogo Brazilia Franchise Holdings Pty Ltd (FBFH) emerged this week when a court ruled on an application to have a subpoena seeking details of communications between Moss, his funder and his funder’s lawyer set aside. The subpoena was issued to Stewart Levitt of Levitt Robinson Solicitors on February 24,…


Risks to SBRP highlighted in ruling on winding up

Integra Restructuring & Insolvency principal Adam Preiner. An application to adjourn the hearing of a winding up application whilst the applicant is subject to the Part 5.3B small business restructuring regime illuminates some of the potential risks facing registered liquidators who accept appointments as a Small Business Restructuring Practitioner (SBRP). In this case the liquidator is Sydney-based Adam Preiner of Integra Restructuring & Insolvency (INTRI)…


Spine in Hall Chadwick paw resists dislodgment

Etienne Lawyers Steven Brown. Hall Chadwick’s Richard Albarran. Hall Chadwick Sydney partners are slowly but surely being dragged closer to a day of either reckoning or redemption in respect of allegations of deceit going back to 2005, with NSW Supreme Court judge Guy Parker last week agreeing to allow mightily vexed (and determined) creditor Owen Salmon to amend his statement of claim. In Salmon v…


dVT pair to appeal Timbercorp ruling

dVT’s Riad Tayeh dVT Groups Antony De Vries dVT Group founders Riad Tayeh and Antony De Vries have instructed their lawyers to appeal a judgment that could see them facing bankruptcy proceedings in respect of investor loans issued by failed agri-scheme operator Timbercorp. Solicitor Marc Ryckmans of Somerset Ryckmans today confirmed that his clients had instructed him file an appeal to the judgment of Victorian…


AFSA acts after court suspends liquidator

Macks Advisory’s Peter Macks. AFSA deputy ceo Gavin McCosker Adelaide resident and insolvency practitioner Peter Macks would no doubt have anticipated this week’s announcement by the Australian Financial Security Authority (AFSA) advising that it had sent him to the naughty corner. It was less than a fortnight ago that a judge of the Supreme Court of South Australia suspended Macks’ registration as a liquidator for…


dVT duo cop whopper Timbercorp debt

dVT Group founder Anton De Vries dVT’s Riad Tayeh A recent judgment of the Supreme Court of Victoria might see amiable dVT Group partner Riad Tayeh forced to take decisive action, which could ultimately include declaring bankruptcy. The reasons for such a potential and at this stage hypothetical course lie in the findings of Victorian Supreme Court Judge Peter Riordan, who on February 5 ruled…


Macks cops 3 year suspension for dishonesty

Macks Advisory’s Peter Macks. A judge of the Supreme Court of South Australia has ordered that the registration of liquidator Peter Ivan Macks be suspended for three years after finding that he had fabricated documents in a failed bid to divert scrutiny of his conduct by the Australian Securities and Investments Commission (ASIC). The finding of dishonesty by Justice Sam Doyle handed down last Friday…


Respected liquidator dodges inquiry bullet, for now

Jones Partners’ Bruce Gleeson. Highly regarded Jones Partners’ principal Bruce Gleeson has dodged a bullet after NSW Supreme Court judge Ashley Black this week chose not to initiate an inquiry into his conduct as liquidator of Military History Tours Australia Pty Ltd (MHT), a company which offered travel to sites like Gallipoli until relations with Swiss-based cruise ship operator MSC Cruises SA soured in 2014….