Pitcher Partners’ Andrew Yeo has lost an enterprising bid to have a deed of settlement involving architect to the affluent Nicholas Day set aside as a voidable transaction after a voluminous ruling by Victorian Supreme Court judge Melanie Sloss. Day’s work is regularly snapped up by Melbourne’s wealthiest but according to Shot One Pty Ltd (in liq.) & Anor v Day & Anor [2017] VSC 741 (7…
The arm wrestle over $835,021.94 paid into a deed of company arrangement (DoCA) has come to a possible conclusion in the West Australian Supreme Court of Appeal with a judge overturning an earlier decision of the WA Supreme Court. As a result Pitcher Partners’ Bryan Hughes and Daniel Bredenkamp as receivers and managers of Pluton Resources have been found to be entitled to the funds ahead of…
The deft management of conflict is a key skill for any registered liquidator and over in West Australia, Tony Woodings is negotiating a minefield of competing interests in the liquidation of the Bell Group of companies. Last week a decision was handed down in the Supreme Court of West Australia that illustrates how past undertakings can come back to bite after Woodings sought directions from…
When there’s $47 million in cash at stake, cross border insolvency issues and allegations that the disputed funds are proceeds of crime, it’s not surprising that the practitioners involved would fall out but the saga of Cedenco JV Australia/SK Foods Australia is one for the record books. Not only have liquidators John Sheahan and Ian Lock locked horns with receivers Mark Korda and Craig Shepherd during…
SV Partners’ Ian Purchas has saved Bias Boating creditors more than a few bob after a judge granted him leave to consolidate claims against 23 parties he’s identified as having received potential unfair preferences prior to the company being placed into voluntary administration (VA) in August, 2014. Describing the decision of the NSW Supreme Court’s Justice Paul Brereton as “quite a big relief” the SV…
Before one casts a critical eye over the back yards of others, one’s own patch must be beyond reproach, which brings us to the slightly unkempt quarter acre awaiting incoming ASIC chairman James Shipton. “One of the reasons I left to become a regulator is that I genuinely believed that financial institutions, big and small, had lost their way and were losing the trust of…
FTI’s John Park and his former colleague Ginette Muller are still trying to wipe off some of the opprobrium that attached itself to them after an August 2013 decision containing uncomplimentary remarks about their handling of the administration of LM Investment Management Ltd (LMIM), responsible entity for the LM First Mortgage Income Fund (FMIF). The remarks were made in proceedings which among other things saw BDO’s…
Pitt Street liquidator Jamieson Louttit has avoided the full wrath of an adverse order – kind of – after a judge ruled that indemnity costs should not be applied to two days spent hearing an application launched in April against Louttit by the king of encaffeination, Les Schirato. In a judgment handed down last week NSW Supreme Court judge Ashley Black signalled that Schirato – in his capacity as director…
Anthony Elkerton and Ron Dean-Willcocks have had to source litigation funding from members of the troubled South Head & District Synagogue (Sydney) as they grapple with the prickly issue of how to deal with the Synagogue’s Rabbi, whose employment they failed to terminate after being appointed administrators on April 26, 2017. In Elkerton, in the matter of South Head & District Synagogue (Sydney) (In Liq) [2017] FCA 1206 Justice…
He might be facing untested allegations that could see him lose his liquidator’s registration but a judge has ruled that David Hurst can accept an appointment that will likely lead to PwC’s David Merryweather and Greg Hall appearing in the witness box for public examination. In James, in the matter of Liquor National Pty Ltd (in liq) v Liquor National Pty Ltd (in liq) (No 2) [2017] FCA 1154 (29…