In being refused his fees and legals, Jirsch Sutherland’s Liam Bellamy has extracted useful clarity from the courts on the question of the costs that can be claimed when an insolvency practitioner is required to attend a mandatory examination, particularly one that requires a practitioner to travel to the ends of the Earth or indeed to destinations even further flung, like Perth. The decision was…
Listening to the proceedings in Coope Litigation Management (CLM) V Octaviar this week, SiN couldn’t but ponder whether the business of bankrolling litigation might not provide more than sufficient grist for even reality television’s mill. Funding claims oxygenates the flames and on Monday CLM’s arsonist-in-chief Patrick Coope spent much of the day in the witness box at the NSW Supreme Court, hosing down insinuatory spot fires. These were started by…
UPDATE Monday, November 27, 2017: It appears Ozem Kassem and others referred to below can rest easy, at least for now. SiN can reveal that over the weekend Stephen Hathway the administrator of the Plaza West deed of company arrangement, received a critical payment under the terms of the DoCA which had been in arrears. The payment followed a threat by Hathway to place the company into…
In the latest skirmish over the multi-million dollar proceeds of sale of the Patinack Farm properties once owned by Nathan Tinkler, liquidators Neil Cussen and David Mansfield have been ordered to deliver their time sheets to the Commissioner of Taxation (CoT). Following a directions hearing in the NSW Supreme Court on Monday, Justice Paul Brereton ordered the Deloitte duo to produce the time sheets and pay…
The deft management of conflict is a key skill for any registered liquidator and over in West Australia, Tony Woodings is negotiating a minefield of competing interests in the liquidation of the Bell Group of companies. Last week a decision was handed down in the Supreme Court of West Australia that illustrates how past undertakings can come back to bite after Woodings sought directions from…
When there’s $47 million in cash at stake, cross border insolvency issues and allegations that the disputed funds are proceeds of crime, it’s not surprising that the practitioners involved would fall out but the saga of Cedenco JV Australia/SK Foods Australia is one for the record books. Not only have liquidators John Sheahan and Ian Lock locked horns with receivers Mark Korda and Craig Shepherd during…
Early next month a series of contested interlocutory applications will be heard that could see PPB Advisory’s Steve Parbery and Glenn Livingstone surf in on what until now has been Deloitte’s exclusive turf – the web of entities linked to the alleged $130 million Plutus Payroll PAYG fraud. On Monday, the NSW Supreme Court heard that Synep Pty Limited – the company at the head of the…
SV Partners’ Ian Purchas has saved Bias Boating creditors more than a few bob after a judge granted him leave to consolidate claims against 23 parties he’s identified as having received potential unfair preferences prior to the company being placed into voluntary administration (VA) in August, 2014. Describing the decision of the NSW Supreme Court’s Justice Paul Brereton as “quite a big relief” the SV…
Worrells’ Morgan Lane and former colleague Michael Peldan could soon find themselves probed by a replacement liquidator after examination summons were issued for the Queensland-based practitioners in regards to Waltek industries Pty Ltd. SiN does not know yet if the intended recipients of the summonses have been served but at this point Waltek’s incumbent liquidator Jamieson Louttit is expected to pursue the pair to public examination. Waltek…
While the Australian Tax Office (ATO) moved earlier this year on those alleged to have masterminded the alleged $165 million Plutus Payroll fraud, at least one of those close to the architects of the scheme was attending to curiously related affairs well beforehand. It was in fact September 20, 2016 when Christian Paul Budd-Madison, whose company Hartford Investments shared offices in Double Bay with those of the businesses of Plutus…