A bid by Deloitte pair David Lombe and Robert Woods to transfer their stoush with solar cell installer Massive Solar (MS) from Sydney to Melbourne has failed after a judge concluded that “the interests of justice require that the proceedings continue in this Court.” Lombe and Woods were appointed liquidator to Inverter Solar (IS) by order of the Supreme Court of Victoria on July 13, 2016….
He might be banned from managing corporations and bankrupt to boot but Nathan Tinkler can still rely on his mate Gerry Harvey to agree to a round of golf, thanks in part perhaps to the efforts of Deloitte restructuring guru Neil Cussen. Cussen revealed yesterday that he and colleague David Mansfield had sold the last property holdings attaching to Tinkler’s former horse breeding and agistment business Patinack…
Henry Kazar received a less than ideal send off to the financial year thanks to Justice John Griffiths, who on June 30 decided that the EY partner’s claim for $64,390.50 was coming it a trifle high given Kazar and his team laboured for years to engineer a land sale that raised all of fifty grand. Kazar applied to the Federal Court in April of this year to have…
Andrew Wily’s relinquishing of his liquidator’s ticket is generating some interesting fallout, with an application by one of Wily’s replacements leading to the publication of an eyebrow raising allegation about a litigation funder, courtesy of the judge before whom the application was made. In the matter of City Pacific Limited [2017] NSWSC 784 Justice Paul Brereton of the Supreme Court of NSW included in his judgment a tale that…
Sydney liquidator Gregory Jay Parker may not be presently enamoured of the wisdom of Federal Court judge Michael Lee, at least as it applies to the practice of issuing a speculative demand. This week in The matter of Worldwide Property Services Pty Limited (In Liquidation ACN 066 573 671) the judge included some less than flattering comments about Parker’s optimistic April 13 ex-parte application for an extension of…
The Deputy Commissioner of Taxation (DCoT) has moved swiftly to take control of multiple insolvent entities connected to the alleged $130 million Plutus Payroll fraud and Deloitte partners Eddie Senatore, Tim Norman and Sal Algeri have scooped up what’s likely to be some very securely funded roles as provisional liquidators. On June 6 in the NSW Supreme Court DCoT intervened in a number of winding up…
PPB Advisory’s Craig Crosbie and his fellow Hastie Group liquidators seem to be fighting a losing battle in their bid to generate recoveries for the creditors of the failed construction firm, and by creditors SiN means Hastie’s banks, they being the only parties with a hope of winning a decent drink from litigation that over the last five years has come to resemble trench warfare. Crosbie is…
PwC’s Sam Marsden and Derrick Vickers look to have wangled a result from the West Australian Supreme Court in their fight with receivers over a deed fund surplus on the Pluton Resources job. In November last year the pair – in their capacity as Pluton’s liquidators – applied for orders relating to the question of Pluton’s entitlement to $835,021.94, left in a deed fund following…
After four years of near Spartan resistance, Stephen Hathway has unexpectedly extracted a settlement from the family behind the failed, cheap-as-chips girls wear outfit, Tightrope group. On Monday, orders were made by consent between Hathway as liquidator of Tightrope Retail and Tightrope Wholesale and Robyn Tripolitis, wife of bankrupt company founder John Tripolitis. Those consent orders came on the eve of the scheduled commencement of a…
The four FTI Consulting partners managing the liquidation of Queensland Nickel have had a tidy win in the Supreme Court of Queensland after applying to extend an interlocutory application preventing Domenic Martino and China First Pty Ltd from interfering in the various proceedings the liquidators have on foot against interests associated with QNI’s ultimate owner, Clive Palmer. The FTI four are suing Palmer’s Mineralogy for…