Bankrupt IP Sam Henderson. It probably goes without saying that when a once successful insolvency practitioner is bankrupted and companies he’s been associated with collapse, then the subsequent insolvency appointees might uncover issues of interest. In the case of the recently bankrupted Sam Henderson – who sources insist held a partner-equating status when he was at Jirsch Sutherland – liquidators John McInerney and Phil Campbell-Wilson…
Lowe Lippmann’s Gideon Rathner. The exercise of commercial judgment is often open to question and Victoria-based Gideon Rathner and Matthew Sweeny may find a recent decision proves vulnerable in the wake of judgment in the matter of Cadence (90) Investments Pty Ltd as trustee of the GDC Discretionary Trust v Simon Dougal Chalmers [2019] NSWSC 1168. The Chalmers referred to is a wellness startup entrepreneur and…
Liquidator Peter Amos (L) leaving the NSW Supreme court with his lawyer Keiran Breckenridge. There were awkward moments in the witness box for Peter Amos last week as he responded to questioning about his time as voluntary administrator (VA) of All City Recycling. Amos got the gig as VA in September 2018 but by December had been replaced upon the application of a creditor. The…
Ex-liquidator Andrew Wily (C) exiting the NSW Supreme Court. The problem with retiring to enjoy the fruits of a life’s labours as ex-liquidator Andrew Wily has done is that sometimes you forget about some of the fruit. Back in 1999 Wily was appointed liquidator of a thing called Liquid Vision. “In a sense, Mr Wily has also ceased to exist, at least in his capacity…
KPMG’s Stephen Vaughan. KPMG’s Gayle Dickerson. Back in mid-July liquidator David Iannuzzi was scheduled to endure three days of gruelling questioning in a Federal Court witness box. The examination was to be the start of the penultimate battle in a war of attrition that began back in September 2017 when the Commissioner of Taxation (CoT) filed a 92-page originating process that listed a most egregious…
BPS Recovery’s Mitchell Ball. dVT’s Suelen McCallum. When a judge tells your barrister that their arguments invoke “medieval philosophy” it’s a good bet that you’re going to be disappointed. So it was when a group of individuals turned up in the NSW Supreme Court yesterday seeking to have special purpose liquidators (SPL) appointed to Bluemine Pty Ltd. The applicants arrived with consents from dVT Group’s…
Vincents’ Nick Combis. Vincents’ Nick Combis has been successful in appealing a decision of the District Court of Queensland requiring him to pay $150k in costs after he had sought to claw back more than $350,000 for creditors of Queensland Quarry Group. The ruling last week in Queensland Quarry Group Pty Ltd (in liq) & Anor v Cosgrove [2019] QCA 220 (18 October 2019) means…
Amos Insolvency’s Peter Amos. Last week iNO revealed that Peter Amos was one of two liquidators being subjected to the scrutiny of an external reviewing liquidator (RevLiq) from ASIC’s panel. This week we learned that it’s not just an ASIC-backed RevLiq that has questions for the south-west Sydney-based IP. During a hearing in the Federal Court on Wednesday we heard how PwC’s redoubtable Scott duo…
PCI Partner’s John Melluish. KordaMentha’s Rahul Goyal. KordaMentha’s Rahul Goyal and Jennifer Nettleton are encountering stiff resistance to their application for orders approving payment of around $400,000 in fees generated from work they’ve performed as special purpose liquidators (SPLs) of ACN 154 520 199 Pty Ltd, formerly named ABC Refinery Pty Ltd. In the Federal Court on Wednesday barrister Steven Golledge told the court that…
FTI Consulting’s Joanne Dunn. FTI Consulting’s Joanne Dunn may well be ruing the day she agreed to an appointment as liquidator of engineering firm Intelara. Prior to her appointment in December 2015 pre-insolvency advisors had persuaded the Intelara directors to undertake what courts say was described to the directors as a “legal phoenix”. The subsequent involvement of the FEG Recovery Unit – which had Palisade…