SV Partners’ Jason Porter. It doesn’t matter if you have 25 years in the insolvency game and sit on the national board of ARITA. If a judge thinks you’ve delayed a winding up inappropriately and failed to show why fees claimed were reasonably incurred then you’re going to get clipped. This at least seems to be the message from NSW Supreme Court judge Kate Williams…
PKF’s Brad Tonks. There must have been much gleeful rubbing of hands yesterday after the NSW Supreme Court of Appeal exorcised the FEG demon in respect of whether a priority creditor’s claim to circulating assets ranks ahead of a liquidator’s claim for remuneration. “The central question before the primary judge and on appeal was whether s 561 of the Act applies and, if so, whether…
Mackay Goodwin’s director of insolvency operations Mitchell Ball. Domenic Calabretta. Amended originating processes, further amended originating processes, deeds of company arrangements and variants thereof – in the end perhaps it was all too much? “The orders in large part seek to bootstrap the obligations in the Amended DOCA by embodying those obligations in Court orders or otherwise to make specific orders in respect of matters…
Liquidator Jason Bettles. Worrells principal Jason Bettles offered to agree to a suspension of his liquidator’s registration as part of a counter offer made more than 12 months before his four year legal battle with ASIC ended in August when the regulator’s case was dismissed and it was ordered to pay Bettles’ costs. As part of those costs orders, Federal Court judge Brigitte Markovic granted…
Cor Cordis partner Jeremy Nipps. Cor Cordis partner Barry Wight. The old adage about biting off more than you can chew and chewing like hell came to mind this week as iNO digested the judgment of Justice Catherine Button in Nipps, in the matter of i-Prosperity Pty Ltd (in liq) [2023] FCA 1446. Her honour was ruling on an application brought by Cor Cordis partners…
Cor Cordis partner Jeremy Nipps. While the words “discharge” and “onus” should never appear in a sentence aspiring to politeness, in obtaining arrest warrants for two men linked to failed iron ore play Ochre Group Holdings (OGH), Cor Cordis West Australia partner Jeremy Nipps has extracted a useful judgment in respect of where onus lies in negating reasonable cause, and how that onus is discharged….
David Levi. If you’re appointed administrator of a company subject to a creditor’s statutory demand and indicate a preparedness to have adjourned the winding up application on foot, it makes sense to turn up with your boxes ticked. Last Friday a court dealt with a practitioner who didn’t. “At the risk of stating the blindingly obvious if I assume I’m gong to win the lottery…
Steve Kugel of The Insolvency Experts. CRS Warner principal Anthony Warner The agonies attending when a partnership split is endlessly litigated have been on full display in this saga of friendship lost and the latest judgment in the case represents another unwelcome suppository for the liquidator on the losing end. As iNO’s previously reported, liquidators and former friends Steve Kugel and Anthony Warner have been…
Liquidator Tony Cant. Liquidator Craig Bolwell. Hopefully there’s no hard feelings after a judge this week rejected an appeal in respect of a lengthy proof of debt dispute involving two Victorian liquidators. “In any event, there is nothing in the evidence to suggest the defendant’s later adjudication was made capriciously, in bad faith or without proper regard to the relevant facts and law.” Associate Justice…
Hall Chadwick partner John Shanahan. iNO had to suppress a grimace on seeing the financial complaints ombudsman David Locke spruik the Commonwealth Bank of Australia’s (CBA) latest anti-scam initiatives over the weekend. The Australian Financial Complaints Authority (AFCA) ceo and chief ombudsman did his bit for the bank by posting on Linked In a Sydney Morning Herald (SMH) piece on CBA’s Scam Indicator and NameCheck…