Hall Chadwick’s Cameron Shaw. HLB Mann Judd WA principal Kim Wallman. Liquidators and lawyers are no strangers to the try on and regardless of the ratio of success, it’s a practice very much based on the idea that if nothing is ventured, nothing can possibly be gained. Trying it on in respect of claims for insolvent trading might generally be thought to carry no risk…
Agility Law Group managing director Levi Smouha. Cor Cordis partner Sam Kaso. There was always the likelihood with a collapse of the scale of Remi Capital Group that some of those exposed to the $125 million failure would be of the secured kind. In the case of Remi group entity Remi (Tarneit) Pty Ltd, the appointment of Cor Cordis partner Sam Kaso as receiver on…
BRI Ferrier’s Peter Krejci. A judge hearing a motion days out from the hearing of a bid for orders that disputed assets belong to a company in liquidation and not its underlying trust said yesterday that the case involves features he’s not encountered in 40 years of practising law. “You were attempting to elicit the truth, and legal proceedings sometimes stand in the way of…
Liquidator Gavin Moss. Photo: iNO Images A recent decision out of the NSW Supreme Court shows how liquidators using the same lawyer who acts for creditors or the liquidator’s funder can quell conflict concerns. In this case Chifley Advisory principal Gavin Moss had to defend himself from allegations of multiple conflict-related breaches of duty by Ian Dresner, the director of churrasco operator Fogo Brazilia Holdings…
Westburn Advisory’s Shumit Banerjee. Chifley Advisory’s Mohammad Najjar. In these hyper-competitive times missing out on a gig to a rival must sting and all the more so when lawyers are telling courts there are issues with your consent. This week lawyers appeared in the NSW Supreme Court in the matter of Dynamic Water Solutions Pty Ltd. An application to wind up the company was the…
Aston Chace Group partner Ian Niccol. When you pitch a fee estimate of $50,000 for a liquidation and a few years later ask a judge to approve more than three times more you can be sure questions will be asked about such an underestimate. For the NSW Supreme Court’s chief judge in equity David Hammerschlag, several questions occurred when the remuneration application in the matter…
KPMG partner James Dampney. KPMG’s Peter Gothard. Electing to flog a chilled foods business to its main competitor has come back to bite current and ex-KPMG partners after they failed this week to have examinations summonses issued by the former owner of the business dismissed. On Wednesday in the NSW Supreme Court Judge Kate Williams ruled that Peter Gothard, James Dampney and former KPMG senior…
Olvera Advisors’ Kate Barnet. Olvera Advisors’ Damien Hodgkinson. There would have been some fist pumping – as an expression of triumph of course – in the Barton Circuit offices of the FEG Recovery Unit last week after a judge ruled that the Commonwealth, subrogated to the rights of employees of a company in liquidation, took priority ahead of a secured creditor in respect of competing…
Aston Chace principal Vincent Pirina. “A hearing is a hearing,” the judge said. “It is not an opportunity for parties to seek judicial advice”. And with those words the lawyers acting for Aston Chace principal Vincent Pirina knew instantly how little wriggle room they’ll be afforded when next they come before NSW Supreme Court judge Kate Williams to prosecute their client’s claim for fees. “It…
BPS Recovery’s Dave Sampson. KPMG’s Max Donnelly. Bungling by the Australian Financial Security Authority (AFSA) has forced two bankruptcy trustees to court in a bid to restore estates to their rightful appointees. Later today the Federal Court will hear an application by KPMG bankruptcy veteran Max Donnelly for declarations that he is the trustee in bankruptcy of the estate of Jason Maurie Nowytarger but not…