Hall Chadwick’s Steve Gladman. It has taken time but this week the NSW Supreme Court of Appeal delivered its verdict in respect of a contentious casting vote exercised by Hall Chadwick’s Steve Gladman at the second meeting of creditors of Glenfyne Farms, back on October 9, 2018. That vote, which for practical purposes defeated an attempt by Glenfyne’s major creditor to replace Gladman as liquidator,…
PKF’s Brad Tonks. The admission of a related party debt appears to have been sufficient for a court to agree to replace an incumbent liquidator with an applicant creditor’s preferred appointee. In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 NSW Supreme Court judge Ashley Black made orders replacing liquidator Adam Farnsworth with PKF’s Brad Tonks. This was on the application…
Trustee Tim Holden. Victorian-based bankruptcy trustee Tim Holden has had some salt rubbed into wounds inflicted earlier this year but also dodged a bullet, with a judge rejecting his opposition to the making of declarations in respect of judgments handed down earlier this year but declining to refer him for investigation to the Inspector-General in Bankruptcy. The insertion of the salt came via Pekar v…
AS Advisory’s Andrew Schwarz AS Advisory’s Ben Corbin Victorian practitioners Andrew Schwarz and Ben Conrad are in the middle of an administration that will likely evolve into one of those stories liquidators tell each other about the joys of material omissions, and being caught between difficult directors and obstreperous creditors. The yarn – as told in MCCA Asset Management Ltd v Kamata Homes Pty Ltd…
Balance Insolvency principal Tim Cook. Balance Insolvency’s Tim Cook looks to have secured a multi-million dollar sale of an intriguing parcel of dirt in Sydney’s west. The land in question has been the subject of protracted litigation between various parties since before Cook was appointed administrator of Fearndale Holdings Pty Ltd, in May 2018. Apart from a currently reserved judgment from the NSW Court of…
Worrells’ Dominic Cantone. Worrells’ Nick Cooper. There’s not much for Worrells South Australia partners Domenic Cantone and Nick Cooper to celebrate in the 350 page judgment of Federal Court judge Tony Besanko, who this week handed down his decision on a controversial DoCA in the matter of Adelaide Brighton Cement Limited, in the matter of Concrete Supply Pty Ltd v Concrete Supply Pty Ltd (Subject…
dVT’s David Solomons. dVT’s Antony Resnick. To say it’s been a while would be to criminally underestimate the time it’s taken for dVT’s Dave Solomons and Antony Resnick to be confirmed in their appointment as administrators of the Carzapp (CZA) group of companies. The pair were appointed in August 2017 but by April 2018 a shareholder who was also one of the three directors of CZA had…
Struck-off liquidator David Iannuzzi. In the end, 10 years on the sidelines looks better than a lifetime ban. So for David Nicholas Iannuzzi, the Sydney liquidator who for the last two years and three months has defended wide ranging allegations of serious misconduct, a decade of ignominy as a struck-off ex-liquidator commenced yesterday. Delivering his long awaited judgement, Federal Court judge Angus Stewart ordered that…
Worrells’ Dan Cvitanovic Worrells’ Nick Malanos. There’s heat aplenty being generated in the administration of Boka Beverages Pty Ltd, with a creditor successfully appointing special purpose liquidators (SPLs) but failing in its bid to force the general purpose incumbents to pay the costs of that SPL application personally. In Melhelm Pty Ltd, in the matter of Boka Beverages Pty Ltd (in liquidation) v Boka Beverages…
Lowe Lippmann’s Gideon Rathner. The exercise of commercial judgment is often open to question and Victoria-based Gideon Rathner and Matthew Sweeny may find a recent decision proves vulnerable in the wake of judgment in the matter of Cadence (90) Investments Pty Ltd as trustee of the GDC Discretionary Trust v Simon Dougal Chalmers [2019] NSWSC 1168. The Chalmers referred to is a wellness startup entrepreneur and…