Veritas Advisory principal David Iannuzzi. The Federal Court has dismissed an application for leave to appeal orders for a judicial inquiry into the conduct of Sydney liquidator David Iannuzzi. Last week three judges of the Federal Court of Appeal ruled that none of the submissions made by Iannuzzi’s legal representatives had persuaded them that in ordering an inquiry into Iannuzzi’s conduct last year, Federal Court…
Worrells’ Christopher Darin. Despite being appointed voluntary administrator (VA) by a very new director very shortly before the scheduled hearing of a winding up application, Worrells’ Chris Darin has succeeded in averting the liquidation of Bevex Distribution, at least for now. In the NSW Supreme Court yesterday Registrar Leonie Walton ruled that the fruit juice supplier’s creditors should vote on whether or not to accept…
Pitcher Partners’ Andrew Yeo. Pitcher Partners’ Andrew Yeo is proving that unfortunate findings about negligent and deceptive conduct by distant colleagues have not damaged his mutually beneficial relationship with the Australian Tax Office. In: McDermott and Potts in their capacities as joint and several liquidators Of Lonnex Pty Ltd (in liquidation) (Acn 097 786 751) [2019] VSCA 23 (19 February 2019) Melbourne-baed Yeo emerges yet…
Hall Chadwick’s Steve Gladman. Hall Chadwick’s Steve Gladman might be feeling more than a little relieved following the verdict of NSW Supreme Court judge Kelly Rees In the matter of Glenfyne Farms International AU Pty Ltd (in liquidation); In the matter of GI Commercial Pty Ltd [2019] NSWSC 161. On Wednesday the judge dismissed an application that if successful would’ve seen Gladman relinquish the role…
Rob Naudi: taking over after de Vries and Solomons resigned dVT Group’s Anton de Vries and David Solomons have had to relinquish their role as trustees of a bankrupt estate, due to differences between creditors unrelated to the bankrupt and those as closely related as creditors could be. Replacing them is Rodgers Reidy’s Rob Naudi, who’s been anticipating a call up since the middle of…
Hall Chadwick’s Steve Gladman. Steve Gladman’s decision to use his casting vote to defeat a resolution to replace him has been challenged in the courts. On Monday the NSW Supreme Court heard that at the second meeting of creditors of Glenfyne Farms International AU Pty Ltd (GFIAU), voting on a resolution to replace Gladman with SV Partners’ Jason Porter and Fabian Micheletto was deadlocked after a poll….
Accepting an appointment as a voluntary administrator (VA) the day before a court’s scheduled to hear why the company should be wound up? Gimme’ a break. Is the market really so tough? Are appointments so scarce? Regardless, INO reckons it looks skewiff. Or stupid. Maybe both. The circumstances upon which we have formed our opinion are to be found In the matter of Polar Agencies…
Fees excessive – Liquidator John Sheahan. Remuneration is a topic never far from the frontal lobe of INO’s audience and thanks to liquidators John Sheahan and Ian Lock and Federal Court judge Tony Besanko, 2019 has started with a decision guaranteed to get synapses firing. On Monday Justice Besanko delivered his judgment in Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No…
It’s difficult to ignore the potential for ideological friction and perceptions of conflict in the upheaval around 1st Fleet Group. The lengthy exad, that’s seen the appointees generate $4.443 million in fees as at July 2018, has so far returned $555,575.00 to the Commonwealth, which paid employees $9.444 million through the Fair Entitlements Guarantee Scheme (FEG). Now consider if you will 1st Fleet’s Committee of Inspection…
SV Partners’ Darren Vardy and Jason Porter have been stung by an adverse judgement that could require them to find at least $200,000 without recourse to the assets of SPC & Co Pty Ltd, the company to which they were appointed liquidators via CVL in August 2017. Much of the detail in this protracted fight for fees by barrister Ventry Gray can be gleaned from the judgment…