Grant Thornton’s Queensland chief Mike McCann is no doubt used to the rough and tumble of insolvency and didn’t sound bothered when SiN called yesterday to ask about an allegation raised against him by counsel for Mawson Restructures and workouts Pty Ltd (MWR). McCann told SiN he wished “I was that powerful” when asked if he and his co-appointees had influenced the payments from the…
This is not just dodging a bullet. This is not even evading the passage of a half-ton projectile fired from the deck of a dreadnought during the battle of Jutland. This is departing ground zero by teleportation a nanosecond before Little Boy. “This” is PPB Advisory’s seeming escape from any adverse findings, possible pecuniary penalties and further negative publicity following the termination of hostilities between…
Justice Paul Brereton has taken a persuasively-argued blade to a pay claim by Chris Darin and Simon Cathro of Worrells for remuneration as liquidators of Dungowan Manly Pty Ltd. The pair asked for $42,761.00 to be fixed by court order after the members of Dungowan Manly refused to endorse the pay claim when it was put to them via resolution on May 23 this year. In his…
Friday drinks might have been a sombre affair for Domenic Calabretta last week after acting justice Reg Barrett of the NSW Supreme Court ordered the Mackay Goodwin principal to pay half the costs that the new board of Condor Blanco Mines incurred having Calabretta’s appointment as voluntary administrator of the ASX-listed entity declared void. Sources in the legal profession estimate Calabretta’s hip pocket will take…
Helm Advisory principal Stephen Hathway is currently enjoying the backing of the Australian Tax Office as it reprises its position on Plaza West, a company whose sole director Maria Fayad is the wife of Dyldam co-founder Sam Fayad. On Monday NSW Supreme Court judge Ashley Black heard a strike out motion launched by Ms Fayad. The company is currently subject to a deed of company…
With the insolvency profession atremble at the prospect of proportionality, the news that HLB Mann Judd’s Barry Taylor and Andrew Needham have had a tad shy of $542,000 in remuneration approved by a court must be reassuring. On Wednesday the Supreme Court of NSW’s Justice Ashley Black handed down his decision In the matter of Idyllic Solutions Pty Ltd as trustee for Super Save Superannuation Fund and…
FTI’s John Park and Lachlan McIntosh have briefed counsel about a possible appeal after a judge of the Supreme Court of Queensland last week set aside an order of a registrar renewing the pair’s claim against lawyer Edward Maitland, and Melbourne barristers John Ribbands and Garry Bigmore. Park and McIntosh are joint trustees of the bankrupt estate of Gary Stirling Camm. Park told SiN yesterday the…
Andrew Barnden and Rob Moodie were the subject of some less than glowing remarks this week in Lum v M V Developments (Lane Cove) Pty Limited (in liquidation) [2016] NSWSC 1248 but there are complexities that made this dispute a tough one to resolve for the Rodgers Reidy pair and an appeal cannot be ruled out. Moodie told SiN the judgment’s conclusions were not what either he or…
When Domenic Calabretta learned this week that he had never been validly appointed as voluntary administrator (VA) to the scandal-plagued Condor Blanco Mines, the focus was rightly fixed upon the Mackay Goodwin director, whose invalid appointment had taken place in circumstances which might generously be described as irregular. (Decide for yourself how irregular: Calabretta Victim Of The Curse Of Condor Blanco) With a few gigalitres under the…
The seemingly interminable struggle in the Federal Court between Fewin Pty Limited and members of the Coshott family against BPS Recovery partner Max Prentice was again laid bare for chronicling yesterday. In the morning Justice Jacquie ‘how sweet it is’ Gleeson tossed out a leave for appeal application made by Fewin, Ronald Michael Coshott and Robert Gilbert Coshott. The applicants were objecting to orders made by Justice…