Hall Chadwick’s Richard Lawrence. Tauro Capital and Apollo League director Simon Ward. Hall Chadwick Melbourne partner Richard Lawrence will refrain from exercising his casting vote in the event there is a deadlock between creditors prepared to accept Tauro Capital director Simon Ward’s compromise offer and those who want his head. In a report issued to Tauro creditors this week Lawrence said that as a consequence…
Chifley Advisory’s Gavin Moss Chifley Advisory’s Gavin Moss is grappling with a bout of FOBBO (Fear of being booted out) after his appointor commenced proceedings to have him removed. Moss and former Chifley colleague Henry Kwok (now at Pathway Insolvency and Advisory) were appointed voluntary administrators (VAs) of FOGO Brazilia Franchise Holdings (FBFH) in early 2018 by director and Rebel Sports co-founder Ian Dresner. The…
Sydney liquidator Steve Nicols will have a tale to tell once orders stemming from the decisions of Justice Stephen Robb in Molenaar v Nicols [2020] NSWSC 674 surface, most likely next week. This is a case where the court’s been asked to resolve vexed questions about the extent to which its powers can be used to restrain a liquidator in administering an insolvent entity’s affairs…
KPMG’s Peter Gothard. Whilst the real pain of Wednesday’s judgment in Parbery & Ors v QNI Metals Pty Ltd & Ors [2020] QSC 143 will be felt by QNI’s general purpose liquidators (GPL) FTI Holdings, Queensland Supreme Court judge Debra Mullins didn’t pull any punches when it came to a couple of elements of the testimony of KPMG partner Peter Gothard. Gothard had been brought…
Cor Cordis Melbourne partner Bruno Secatore. The 28 plus year long liquidation of Last Lap Pty Ltd makes one wonder just how many insolvency practitioners will get to take a lap around this seemingly eternal liquidation, but for the moment we’ll focus on the incumbent, Bruno Secatore. Last week the Federal Court handed down its decision in Secatore, in the matter of Last Lap Pty…
Hogan Sprowles’ Brendan Copeland. Those of you with a taste for the intricacies inherent in right of subrogation questions will, In the matter of Fellmane Pty Ltd (in liq) [2020] NSWSC, 595, find much meat in which to sink your fangs. In this matter Hogan Sprowles partner Brendan Copeland has had to go back to the drawing board after a planned sale of an asset…
Duff & Phelps’ Marcus Ayres. BDO’s Andrew Sallway. It’s not quite a choses in action at 10 paces but a receiver and a liquidator have agreed that no debt proof adjudication will resolve this particular brouhaha. The dispute involves related entities Business Finance Pty Ltd and Partner Invest, which the NSW Supreme Court yesterday heard were in the non-bank lending space. “… he is a…
Tauro Capital director Simon Ward. Hall Chadwick’s Richard Lawrence. Creditors of Simon Ward’s failed start-up accelerator Tauro Capital have received a potential reprieve with liquidator Richard Lawrence advising that next Monday’s meeting to vote on Ward’s Spartan compromise would be adjourned. ” … additional information and documentation has been provided to my office since the Reports were issued to creditors and this information indicates potential…
Liquidator Schon Condon. A dispute in respect of fees and disbursements has descended to the point where payments over which a liquidator claims a lien are getting the Scott Schedule treatment. The accounting equivalent of death by a thousand cuts, the Scott Schedule will involve a spreadsheet savant undertaking painstaking and pedantic analysis of liquidator Schon Condon’s WIP reports for Azmac Pty Ltd (In Liq)….
Hall Chadwick’s Richard Lawrence. Every pandemic has a silver lining and Hall Chadwick’s Richard Lawrence and Richard Albarran may see an advantage in the fact that meetings are being held remotely as they prepare to put a controversial debt compromise to creditors of failed start-up accelerator Tauro Capital. Since their appointment Lawrence has identified almost $1.6 million borrowed from Tauro by sole director Simon Ward…