SiN cannot identify them but let us take our cue from the Family Court’s in-house anonymisers, who dubbed them Messrs Fuller and Martini in the recent judgment of Sadler & Sadler and Others , a ruling that affirmed their appointment as receivers to a pair of trusts and a superannuation fund at issue in a matrimonial spat. The application to appoint was made by the wife…
It was one of those rare instances when the application of a proportionality percentage aligned with the fees that liquidators had calculated using their own hourly rates. But as often happens with opportune outcomes, special circumstances held sway. First and foremost was the nature of this liquidation. There were two entities, neither insolvent. One had no directors. The other had directors who were siblings and “deadlocked”….
Queensland insolvency practitioner David Clout has told SiN that he didn’t like “going after another practitioner” so perhaps at some deep, subconscious level any discomfort stemming from his decision to sue Peter Dinoris and Nick Combis for breach of duty and seek damages may be assuaged now the company he controls as liquidator has been ordered to pay the Vincents‘ partners’ costs. In his judgment of…
If it had a spare moment to reflect, the spectre of proportionality would realise Justice Paul Brereton isn’t the only judge it has to thank for the frequency of its invocation. Another recent invokor is the NSW Supreme Court’s Justice Stephen Robb, who last week summoned the liquidator-terrorising shade to cloud the fortunes of David Clout. In the matter: David Lewis Clout in his capacity as Liquidator of Mainz…
One has to wonder what was going on with Baycorp Collections and its lawyers following the decision of Federal Court Judge Chris Jessup to annul the bankruptcy of Victorian woman Buket Ozdil. The decision was handed down last Friday after Ozdil applied to have her August 5, 2014 bankruptcy annulled and the bankruptcy notice which led to her bankruptcy set aside. Justice Jessup granted her the…
William Buck’s Rob Whitton and Brendan Copeland have temporarily fended off an effort to have them removed as liquidators of Ridley Capital Holdings (RCH), a company controlled by architectural entrepreneur Joshua Ridley, after a judge ordered that their foreign nemesis must first stump up $45,000 as security for costs. In a judgment handed down this week Supreme Court Acting Justice Reg Barrett decided that the Californian-domiciled plaintiff,…
It’s not often that a liquidator writes to a judge requesting that the judge discontinue proceedings in which the liquidator is in control of the plaintiff. It’s probably even rarer for the judge to publish the letter. But it’s happened, courtesy of a judgment from acting Supreme Court Justice Reg Barrett and an unfortunate epistolary impulse indulged by liquidator Andrew Wily. Typically the circumstances giving…
Kemp Strang’s Peter Harrison has delivered a compelling summary of the risks attending to claims for unfair preference payments in the context of the May 13 judgment of Federal Court Judge Jim Edelman In the matter of FPJ Group Pty Ltd in Liquidation. The humbling affair involved Hall Chadwick’s David Ross – as liquidator of FPJ Group Pty Ltd – going after FPJ’s supplier, CSR Building Products. Ross…
As Australia’s population ages and the costs of modernity multiply, insolvency practitioners will find themselves dealing more frequently with clients unfit to exercise their responsibilities and obligations. This story is not about them. This story is about a bankrupt whose attempts to be exempted from a public examination on the grounds that it would exacerbate her mental illness have come to naught in the Federal…
The Federal Court has ruled that Vincents partner Peter Dinoris failed in his duties by not contacting the director who appointed him voluntary liquidator of her company, despite the director transferring $236,500 from the company’s bank account just days prior to his appointment. In a judgment handed down last week, Federal Court Judge John Reeves found that “Mr Dinoris contravened s 180(1) of the Corporations Act by failing…