Whilst one must take care not to assume, it looks as though ex-KordaMentha partner Cliff Rocke and KordaMentha’s John Bumbak have doubled down in getting up officialdom’s nose. It started on June 6 when Rocke went to the Federal Court seeking an order to facilitate his retirement as sole liquidator of three companies to which he’d been appointed before his departure from Kordas in December, 2016. Rocke also asked…
Sydney liquidator David Young will have his legal advisors furiously redrafting after a judge yesterday ruled he needed to replead allegations of fraud and claims for compensation he’s seeking to pursue against Sydney accountant Aaron Randell, York Street, Sydney accounting firm Emerson, Randell & Young and the directors of Galtari Pty Ltd. INO makes no suggestion of wrongdoing in relation to the allegations, which are contained…
PPB Advisory’s Chris Hill has saved his firm hundreds of thousands of dollars after successfully opposing an order for a subpoena sought by the directors of Force Corp (in liquidation), and thanks to Justice Fabian Gleeson, Insolvency News Online (INO) can report on the matter in detail. In the matter of Force Corp Pty Ltd (Recs and Mgrs Apptd) (in liq) [2018] NSWSC 896 (15 June 2018) we…
A resolution put to a meeting of creditors by an owners corporation seeking the removal of Henry McKenna as liquidator of Iris Diversified Property Pty Ltd has been confirmed by the NSW Supreme Court this week. On Tuesday, June 6, 218 Justice Ashley Black ordered that the soon-to-be ex-Jirsch Sutherland partner be replaced by O’Brien Palmer’s Chris Palmer and Liam Bailey and that the incoming appointees’ costs by…
Insolvent trading actions might be rare but they can have a galvanising effect on directors, as evidenced by the findings of his honour Judge Matthew Dicker of the NSW District Court in the matter of Inner West Demolition (NSW) Pty Limited v Silk [2018] NSWDC 136. In this instance Inner West Demolition initiated proceedings seeking to prise $327,332.50 under s 588M of the Corporations Act…
Having identified more than $60 million in potential recoveries, it’s no surprise that the liquidators of Australian Institute of Professional Education Pty Ltd (AIPE) are battling on various fronts in both attack and defensive modes. Ferrier Hodgson’s (FH) Morgan Kelly, George Georges and Ryan Eagle were appointed by way of a voluntary winding up under section 491 0f the Corporations Act on 6 October 2016. Since then…
Over in West Australia three of Hall Chadwick’s movers and shakers have extracted an interesting decision in regard to exempting priority creditors from DoCAs from newly gowned Justice John Vaughan of the Supreme Court of the Sandgropers. In Richard Albarran, Brent Kijurina and Cameron Shaw as joint and several administrators of Coopers & Oxley Builders Pty Ltd (Administrators Appointed) [2018] WASC 161 (29 May 2018) the VAs…
Availability of and access to litigation funders is one of the biggest challenges for liquidators and while funder numbers have swelled in recent years it doesn’t mean the dollars are easier to find. Liquidator Michael Hird has spent considerable time trying to attract a backer willing to underwrite examinations of some of the directors of the failed Allmine Group, a search outlined in convenient detail…
This is fresh out of the Supreme Court of Queensland, courtesy of Justice John Bond. “Parbery v QNI Metals Pty Ltd [2018] QSC 107 Summary of judgment This summary is not a substitute for the published reasons for judgment of the Supreme Court of Queensland. Nor may it be used in any later consideration of those reasons. The only authoritative pronouncement of the Court’s reasons…
It’d be unfair to suggest that every attempt at resolving the Mossgreen auction house imbroglio has merely driven the hapless imbrogliees deeper into the legal warren excavated by their competing claims, but Federal Court Justice Nye Perram’s latest ruling doesn’t exactly dispel the cynicism. In White, in the matter of Mossgreen Pty Ltd (Administrators Appointed) (No 3) [2018] FCA 711 the reality is laid bare. Four classes of creditor claim…