Liquidations

Brains over Breasts founder’s pizza venture bust

SAI Capital Investments Sally Illingworth. She may well be the “Northern Territory’s 59th Most Powerful Individual” and formerly Darwin’s most prominent pizza franchisee, but Brains over Breasts founder Sally Anne Illingworth is discovering that social media infamy and the gift of the gab are no substitute for cash when the tax personage calls. This week the Federal Court ordered Illingworth’s $1 company – SAI Global…


Liquidator fought the law and, well you know the rest

Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. Dominic Calabretta may have ended his obdurate resistance to efforts to replace him as liquidator of Condura Pty Ltd but the terms of the truce negotiated with his nemesis will see a final humiliation imposed upon the Mackay Goodwin founder. While the Federal Court has approved an application by the Commonwealth’s FEG Recovery Unit seeking 40…


Liquidators to seek $1.6 mill from executive coach

KordaMentha’s Rahul Goyal. KordaMentha’s Jen Nettleton. KordaMentha’s Jen Nettleton and Rahul Goyal are cleared to commence bankruptcy proceedings against high profile executive coach Peter Hislop after a court ordered that he pay the pair more than $1.6 million. Hislop’s company Potentia3 Pty Ltd was facing liquidation back in May 2015 after defaulting five times on repayment arrangements it had entered into with the Australian Tax…


Vic Liqs whacked on costs after failed appeal

Victorian liquidator Ross McDermott. Victorian liquidators Ross McDermott and John Potts have had a rugged time of it of late. On March 1 INO reported how the pair had fallen foul of their funder, the Federal Commissioner of Taxation (Commissioner) in relation to their pursuit of $22 million said to be owing in relation to an uncommercial and unreasonable director-related transaction involving the company in…


dVT pair fined $10,000

dVT’s Suelen McCallum. dVT’s Riad Tayeh dVT Group duo Suelen McCallum and Riad Tayeh have been fined $10,000 following an investigation by an ARITA Professional Conduct Committee (PCC). ARITA convened the PCC to examine the pair’s acceptance of an appointment as liquidators of Hemisphere Technologies (HT), which these days is known as ACN 152 546 453 Pty Ltd. Their appointment took place in January 2017,…


QLD liq stung by $150k in adverse costs

Vincents’ Nick Combis. Vincents partner Nick Combis has found himself on the wrong side of an adverse costs order after the creditor he was pursuing persuaded a judge that her preferences were protected. In Queensland Quarry Group Pty Ltd (In Liquidation) & Anor v Cosgrove [2019] QDC 26 Combis, in his capacity as liquidator of QQG, sought to retrieve more than $350,000 received by a…


Yeo the man for ATO

Pitcher Partners’ Andrew Yeo. Pitcher Partners’ Andrew Yeo is proving that unfortunate findings about negligent and deceptive conduct by distant colleagues have not damaged his mutually beneficial relationship with the Australian Tax Office. In: McDermott and Potts in their capacities as joint and several liquidators Of Lonnex Pty Ltd (in liquidation) (Acn 097 786 751) [2019] VSCA 23 (19 February 2019) Melbourne-baed Yeo emerges yet…


Liquidator replaced – conduct to be reviewed

Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. Domenic Calabretta’s handling of the Condura Pty Ltd MVL and CVL will be reviewed after a court ordered that the Sydney liquidator be replaced by Ferrier Hodgson’s Robyn Duggan. Calabretta was appointed liquidator of Condura via a members voluntary liquidation (MVL) back in December 2017. By August 2018 the MVL had become a creditors voluntary liquidation…


Casting vote challenged after creditors reject 100c/$

Hall Chadwick’s Steve Gladman. Steve Gladman’s decision to use his casting vote to defeat a resolution to replace him has been challenged in the courts. On Monday the NSW Supreme Court heard that at the second meeting of creditors of Glenfyne Farms International AU Pty Ltd (GFIAU), voting on a resolution to replace Gladman with SV Partners’ Jason Porter and Fabian Micheletto was deadlocked after a poll….


Commonwealth moves to clip liquidator

Mackay Goodwin’s Domenic Calabretta looks to have failed in his efforts to dissuade the FEG police from removing him as liquidator of Condura Pty Ltd. Last week the Federal Court heard the commencement of an application by the Commonwealth seeking to have Ferrier Hodgson’s Robyn Duggan replace Calabretta on the controversial appointment, which began on December 6, 2017 when Calabretta was appointed via a members…