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…
PKF’s Mark Roufeil. PKF’s Brad Tonks. Being accustomed to “scurrilous”, the description of iNO’s output as “analytical” was sure to rouse your correspondent from his usual aspect, slouched in the corner of court room 8C during the weekly hearing of the NSW Supreme Court’s corporations list. This is particularly so when the individual using the more complimentary term is the Corporations List judge, and so…
BRI Ferrier partner Peter Krejci. “Transcript! I must have transcript,” the appeals court president might well have thundered. When appellant court judges are delivered a white book unfit for a dog’s breakfast and receive material in their chambers on the morning of the hearing that hasn’t been served on the respondent well, tempest can be reliably forecast. And inevitably in such circumstances, a bench’s collective…
PKF’s Brad Tonks. FEG Active Creditor Recovery Unit Director Henry Carr. There would have been only measured satisfaction in the offices of PKF partner Brad Tonks and his lawyers at O’Neill Partners after the NSW Supreme Court yesterday delivered them a potentially significant victory against the Commonwealth’s FEG Recovery Division in respect of the dreaded interplay of sections 556 and 561 of the Corporations Act…
Rodgers Reidy director David Hambleton. Two Queensland liquidators are licking their wounds after betting that the Commissioner of Taxation (CoT) was wrong on the question of the relation back date for 52 The Esplanade Pty Ltd, a Surfers Paradise cafe operator. The question came before Queensland Supreme Court judge Declan Kelly for determination on March 15 and judgment in Re 52 The Esplanade Pty Ltd…
Simon Cathro of Cathro & Partners. Cathro & Partners’ Andrew Blundell. Several companies operating goldmines have entered external administration recently, just when the yellow element’s spot price would seem to be supportive of solvency, if not profit. iNO’s coverage in the past few months has included reports on the travails of Jin Resources (Australia) Pty Ltd and its Gilded Rose gold mine near Cloncurry in…
Shaw Gidley principal Paul Gidley. Rodgers Reidy’s Andrew Barnden. There are few things that should get the pulse racing like consenting to become administrator of a corporation about to be wound up. Knowing there’s a problematic debt, knowing that a hearing’s imminent and knowing not much else about an entity’s affairs must elevate the tension for even the most cocksure practitioner, especially in circumstances where,…
KordaMentha’s Richard Tucker. Worrells’ Christopher Darin. No matter what misgivings liquidators of a company might have about the conduct of separate liquidators appointed to a related entity, they must always resist the temptation to apply to wind up that related entity if it’s subject to a deed of company arrangement (DoCA). That’s the message Supreme Court of West Australia Master Craig Sanderson delivered last week…