JUSTKapital founder Phil Kapp. The saga of former Corrs partner and JUSTKapital co-founder Philip Kapp does not stop with the latest instalment featuring a fight over the proceeds of sale of a holiday house. Kapp has already battled aggressive cancer with a blitzkrieg of experimental and expensive treatments; fallen out with the partners in his litigation funding venture and declared bankruptcy following a relentless pursuit by the…
Cornwalls’ Ian Heathwood. A construction industry insolvency and non-payment crisis? Election over – Will the parties keep their promises to fix Australia’s construction industry insolvency and non-payment crisis? Leading up to the election both major political parties promised to fix Australia’s construction industry insolvency crisis and non-payment problems. Readers know it is even worse than the politicians and press have been saying. As a lawyer…
SV Partners’ Michael Carrafa. Image: SV Partners. An application by SV Partners’ Michael Carrafa for vacant possession 13 years after sequestration has been knocked back in the Federal Court. The unusual circumstances are outlined in Carrafa v Chaplin, in the matter of the bankrupt estate of Michael Chaplin [2019] FCA 415. What bankruptcy practitioners – and their lawyers – can takeaway from this one is…
A spat over control of Fearndale Holdings‘ shale quarry has flushed out a real crowd from the world of insolvency and the sometimes connected world of individuals who’ve captured the attention of the ATO. Back in May 2018 Balance Insolvency’s Tim Cook was appointed voluntary administrator of Fearndale Holdings which has some claim to the quarry at Luddenham in Sydney’s west. This week the Supreme Court heard…
The dispute around control of Rushcutters Bay eatery Bar M – formerly known as Bar Machiavelli Pty Ltd – has Hurst Recovery’s David Hurst in court urgently seeking to unwind transactions that could ultimately see him liable to pay a costs order for at least $60k and other as yet unallocated costs. At the same time, those who referred him the job – restaurateur Paola Toppi and…
Eat my spray might be the boast after BPS Recovery secured the Liquidator’s Trophy at this year’s Chartered Accountants ANZ Annual Sailing Regatta hosted by the Cruising Yacht Club of Australia (CYCA) last Thursday. The win, by BPS partner Max Prentice’s Ticket of Leave (ToL), wrenches back the coveted title from Paul Billingham, who had relieved 2016 winner Prentice of the trophy when the CYCA commodore…
The Commonwealth’s FEG Recovery Unit has won an important skirmish in its dispute with One Corporate Trust Services (OCTS), the appointors of McGrathNicol as receivers of Australian Road Express Pty Ltd (ARX) and Jolly’s Transport Services Pty Ltd. On Monday, the Federal Court published the September 17, 2018 decision of Justice Mark Moshinsky dismissing OCTS’ application to have FEG’s cross-claim in this complex game of PPSR fanagling struck out. The…
When you’re conducting what might be the largest and most complex public examination ever run by Australian liquidators, maintaining the process without inadvertently creating additional complexity can be challenging, as Pitcher Partners’ Andrew Yeo and Gess Rambaldi have discovered after being dragged into a potential defamation action between one of the examinees and Fairfax Media’s The Age newspaper. On August 28 Tim Batchelor, a locksmith…
It would have been quite a sight seeing ASIC investigators involved in the regulator’s achingly drawn out pursuit of Peter Macks cross-examined by the South Australian-based liquidator but it is not to be, with Justice Sam Doyle of the Supreme Court of South Australia declining to countenance such entertainments. In Australian Securities and Investments Commission v Macks [2018] SASC 132 the judge revealed how he had refused…
Sometimes the legal advice one lot of liquidators has been relying on isn’t good enough for another lot, particularly when there’s a third lot pushing like hell for a second opinion. Such is the current state of affairs as it pertains to Neolido Holdings, that curious cash cow which earlier this year passed from the control of PPB Advisory’s Grant Sparks to BDO’s Andrew Fielding…