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…
It’s difficult to ignore the potential for ideological friction and perceptions of conflict in the upheaval around 1st Fleet Group. The lengthy exad, that’s seen the appointees generate $4.443 million in fees as at July 2018, has so far returned $555,575.00 to the Commonwealth, which paid employees $9.444 million through the Fair Entitlements Guarantee Scheme (FEG). Now consider if you will 1st Fleet’s Committee of Inspection…
Jirsch Sutherland partner Sule Arnautovic will be replaced as liquidator of the St Gregory’s Armenian School after Insolvency News Online revealed it was one of four entities allegedly looted by Arnautovic’s sister and former Jirsch partner Amanda Young, who was sacked by the national insolvency firm late last year. Last Friday in the NSW Supreme Court Justice Stephen Robb ordered that Grant Thornton’s John McInerney and Philip…
Gigalitres of litigation have passed beneath the bridge since the directors of the troubled Walton Constructions Group were referred to the National Australia Bank’s (NAB) preferred troupe of external restructurers back in 2013. In awarding the liquidators of Walton Construction (Qld) Pty Ltd a tidy sum and unwinding one of the most controversial of the various transactions that characterised the Mawson Group’s byzantine plan yesterday, Federal Court judge Roger Derrington has…
Now that a bid for permanent stay has been dismissed and the appointment of a suitable expert to determine the date of insolvency or otherwise is imminent, INO thought it appropriate to revisit the Starcom saga. Readers may recall that we first delved into this ageing administration in June this year in Lost Records An Obstacle For Pitchers’ Partner. That was when Starcom’s chief executive officer (CEO) Jega Muttucumaru…
Word is that De Jonge Read director Ashley Shield may have spent some time in the witness box this week during examinations into the affairs of Trigger Holdings Pty Ltd. Details are sketchy with the courts refusing to release details and Trigger’s liquidators clamming up when INO called seeking specifics. What we do know is that a director and a former director of the company were…
More detail has emerged about the possible phoenix transaction that has embroiled FTI Consulting’s Joanne Dunn in an unseemly scrap with the Commonwealth’s FEG Recovery Unit. In Commonwealth of Australia, in the matter of ACN 093 117 232 Pty Ltd (in liquidation) v ACN 093 117 232 Pty Ltd (in liquidation) [2018] FCA 1922 Federal Court Justice Roger Derrington has granted FEG orders for the appointment of a special…
FTI Consulting’s Joanne Dunn has been supplanted by a special purpose liquidator (SPL) after the Commonwealth’s FEG Recovery Unit decided it wanted someone else to investigate possible phoenix transactions involving companies within the Intelara Group (Intelara). Last week in the Federal Court Justice Roger Derrington heard that FEG wanted Perth-based practitioner Jack James appointed SPL of a company known only by its Australian Company Number –…
When’s money held on trust and when is it not? It’s a question that’s probably exercised the minds of FTI Consulting’s John Park and Kelly Anne Trenfield at least on occasion over the last couple of years in their roles as liquidators of claims assessor Stream Group (Aust) Pty Ltd (SGA) and NSW Supreme Court judge Ashley Black yesterday provided an answer. In his judgment In the…
You know views on a course of action have become estranged when one set of insolvency practitioners asks a court to inquire into the conduct and remuneration of another set of insolvency practitioners. That however is what has happened to Pitcher Partners Andrew Yeo and Gess Rambaldi, who for almost two years have been engaged in an attritional struggle with Mark Korda, a struggle which…