PwC’s Simon Theobald PwC’s Robert Ditrich. You might have thought that when Perth-based litigation funder GT Capital Partners imploded last year with its founders exchanging aspersions at 10 paces, whoever was appointed to clean up the mess would have their work cut out for them. Well as it turns out, a DoCA’s been effectuated, new directors have taken over and the Supreme Court of West…
Oracle Insolvency Services’s Nick Cooper. It seems there’s nothing like putting the frighteners on a recalcitrant debtor to ensure compliance with an existing repayment agreement and pleasingly, the Federal Circuit Court endorses such intimidation when the motives are pure and in line with the Act. “While, of course, from time to time, remarks have been made by Courts exercising jurisdiction under the Act about the…
CRS Warner principal Anthony Warner Steve Kugel of The Insolvency Experts. The seemingly endless wrangling over money owing by one insolvency practice partner to his former practice partner might actually be reaching a conclusion eight years after the pair split, with a NSW Supreme Court judge yesterday ruling on the final issues in dispute. “The defendants ask me to accept that, faced with the need…
Insolvency marked another milestone last week when former Ferrier Hodgson partner Gary Trevor completed the torturous winding up of Bell Group NV (BGNV) almost three decades after being appointed liquidator by Australian courts of an administration ancillary to its parent insolvency in the Caribbean jurisdiction of what was then the Netherlands Antilles. In the Supreme Court of West Australia the Perth insolvency veteran obtained orders…
O’Brien Palmer’s Daniel Frisken. McGrathNicol Partner Kathy Sozou. In the matter of Xpress Transport Solutions Pty Ltd (Receivers and Managers Appointed) (Administrator Appointed), Federal Court judge Elizabeth Cheeseman has provided a handy guide for external administrators on how not to proceed with an application for an extension of the convening period. O’Brien Palmer partner Daniel Frisken also deserves special mention. “The approach taken by the…
Cor Cordis partner Sam Kaso. Cor Cordis Melbourne partner Bruno Secatore. Cor Cordis duo Sam Kaso and Bruno Secatore will be relieved following a decision of the Federal Court delivered this week in Kaso (administrator), in the matter of Sanitation Maintenance Services Pty Ltd (administrators appointed) [2023] FCA 418. The pair were appointed administrators of Sanitation Maintenance Services and three related companies in July 2022….
IRT Advisory’s Andrew Poulter. Following publication of lurid details involving sham arrangements, straw directors and shadowy puppet masters, iNO asked the liquidator responsible for uncovering the imbroglio if he’d reported his findings to ASIC. As it turns out, he had. IRT Advisory’s Andrew Poulter lodged a section 533(1) report with ASIC in January 2018 in respect of what smelled like the liquidation of convenience of…
Trustee in bankruptcy Schon Condon. Hoons, pig dogs, four wheel drives and firearms. The trappings of your average urban bankruptcy are far removed from this exemplar of the trustee’s eclectic lot, which involves rural properties and an estate unresolved after almost 20 years. In this case trustee in bankruptcy Schon Condon, in whom the property of former bankrupt Evan Alfred Cleaver vests despite Cleaver’s discharge…
The late Sam Henderson. Insolvency Options principal Darren Vardy. Recently deceased insolvency practitioner Sam Henderson was seemingly in the thick of things to the very end, with a Federal Court judgement detailing meetings the former Jirsch Sutherland partner had with a liquidator in the weeks before he was found dead at a North Sydney hotel on April 4. “I was satisfied that there was good…
SV Partners’ David Stimpson. We hope David Stimpson felt some relief this week when the Queensland Court of Appeal delivered judgment in the matter of Allied Rural Pty Ltd v Stimpson [2023] QCA 77. The SV Partners executive director deserves closure after being drawn into a ghastly dispute between rival members of Allied Rural which saw Stimpson appointed administrator by the then sole director on…