Liquidators

Liquidator replaced after admitting related party debt

PKF’s Brad Tonks. The admission of a related party debt appears to have been sufficient for a court to agree to replace an incumbent liquidator with an applicant creditor’s preferred appointee. In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 NSW Supreme Court judge Ashley Black made orders replacing liquidator Adam Farnsworth with PKF’s Brad Tonks. This was on the application…


Contrition and circumstances save Ball’s bacon

BPS Recovery’s Mitchell Ball. Jump on directors, back-dated documents, low ball fees and a common referrer – a disciplinary committee convened to consider whether liquidator Mitchell Ball should remain registered has benched the BPS Recovery partner for a year but declined to cancel his registration. Making its findings public yesterday the committee said that Ball’s contrition, the calibre of those providing endorsements of his character…


Craig Walton bankrupt after GPLs examine liquidator

Bentleys’ Tracey Knight. Liquidator Jim Downey Craig Walton, a key figure in one of the most controversial corporate restructures of recent times, has declared bankruptcy a week before the commencement of a trial brought by liquidators chasing the 63 year old for a $1.65 million debt. A search of the National Personal Insolvency Index reveals Craig Hall Walton, unemployed of East Melbourne, declared himself bankrupt…


Worrells partner allegedly facilitated phoenix

Worrells partner Jason Bettles. Worrells partner Jason Bettles is facing a judicial inquiry amid allegations he facilitated an illegal phoenix scheme concocted by the controllers of the failed Members Alliance Group (MA Group). In court documents obtained by Insolvency News Online (iNO) the Australian Securities & Investments Commission (ASIC) alleges Bettles attended meetings in July 2016 with MA Group’s controllers and its advisors where the…


dVT pair’s appointment confirmed at last

dVT’s David Solomons. dVT’s Antony Resnick. To say it’s been a while would be to criminally underestimate the time it’s taken for dVT’s Dave Solomons and Antony Resnick to be confirmed in their appointment as administrators of the Carzapp (CZA) group of companies. The pair were appointed in August 2017 but by April 2018 a shareholder who was also one of the three directors of CZA had…


Boka GPLs face off with SPLs’ appointor over costs

Worrells’ Dan Cvitanovic Worrells’ Nick Malanos. There’s heat aplenty being generated in the administration of Boka Beverages Pty Ltd, with a creditor successfully appointing special purpose liquidators (SPLs) but failing in its bid to force the general purpose incumbents to pay the costs of that SPL application personally. In Melhelm Pty Ltd, in the matter of Boka Beverages Pty Ltd (in liquidation) v Boka Beverages…


Suspended liquidator referred under Schedule 2

Suspended liquidator Amanda Young has been referred to a Schedule 2 Committee. It’s been almost 12 months since her employment was terminated but challenges continue for suspended liquidator Amanda Young. Last week ASIC referred the former Jirsch Sutherland (Jirsch) partner to a Schedule 2 Disciplinary Committee, alleging misconduct in respect of sections 40-40(1)(f) and (m) of the Insolvency Practice Schedule. Section 40-40(1)(f) deals with an…


Mass request a reminder that Amerind ain’t over

FEG Recovery Unit Director Henry Carr. The Commonwealth is coming and in hindsight the mass of request for information letters sent to registered liquidators (RegLiqs) recently by the FEG Recovery Unit should not surprise. Once FEG’s view on corporate trustees and circulating assets was vindicated by the High Court, as it was last June in: Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth…


Lowe Lippmann duo’s sale an interesting tale

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…


Amos

Liquidator Amos examined by PwC pair

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…