Liquidators

Receiver and liquidator amiably at odds over chose

Duff & Phelps’ Marcus Ayres. BDO’s Andrew Sallway. It’s not quite a choses in action at 10 paces but a receiver and a liquidator have agreed that no debt proof adjudication will resolve this particular brouhaha. The dispute involves related entities Business Finance Pty Ltd and Partner Invest, which the NSW Supreme Court yesterday heard were in the non-bank lending space. “… he is a…


New intel sees liquidator adjourn compromise vote

Tauro Capital director Simon Ward. Hall Chadwick’s Richard Lawrence. Creditors of Simon Ward’s failed start-up accelerator Tauro Capital have received a potential reprieve with liquidator Richard Lawrence advising that next Monday’s meeting to vote on Ward’s Spartan compromise would be adjourned. ” … additional information and documentation has been provided to my office since the Reports were issued to creditors and this information indicates potential…


Circular omission could cost Cor Cordis couple

Emu Group liquidator Andre Lakomy. Cor Cordis partner Alan Walker. When you and your colleague are appointed voluntary administrators (VA) and neglect to send the first circular to the company’s potentially largest creditor, regrettable consequences can follow. For Cor Cordis duo Andre Lakomy and Alan Walker, those consequences have yet to manifest, though it may only be a matter of time before they are ousted…


Scott Schedule to torment Azmac secureds

Liquidator Schon Condon. A dispute in respect of fees and disbursements has descended to the point where payments over which a liquidator claims a lien are getting the Scott Schedule treatment. The accounting equivalent of death by a thousand cuts, the Scott Schedule will involve a spreadsheet savant undertaking painstaking and pedantic analysis of liquidator Schon Condon’s WIP reports for Azmac Pty Ltd (In Liq)….


Liqs defeat tax office to recover DoCA payments

Pitcher Partners’ Gess Rambaldi. Pitcher Partners’ Andrew Yeo. Pitchers Partners’ Andrew Yeo and Gess Rambaldi have extricated an unlikely victory over the Deputy Comissioner of Taxation (DCoT) in respect of payments made by a company subject to a deed of company arrangement (DoCA). As is revealed in Yeo, in the matter of Ready Kit Cabinets Pty Ltd (in liq) v Deputy Commissioner of Taxation [2020]…


KPMG partner pushes privilege envelope

KPMG’s Peter Gothard. KPMG’s Peter Gothard has helped push a court to explicitly define the powers of liquidators in respect of claims of legal professional privilege and the outcome will not have pleased the non-executive directors (NEDs) of failed education provider Vocation Limited. In Whittenbury v Vocation Limited (No 2) [2020] FCA 653 Federal Court judge John Middleton last week ruled that Vocation’s NEDs have…


Stat demand rebounds as costs imposed on dVT duo

dVT’s David Solomons dVT’s Riad Tayeh Stat demands, divorcees and former business partners now rivals in the Northern Territory’s child care sector? The question here is what could possibly go right. Sydney liquidators David Solomons and Riad Tayeh might well be wondering the same, after a Judge of the Queensland Supreme Court found that liquidators don’t have to have acted unreasonably before they can be…


GPL ordered to pay SPLs costs out of own pocket

Liquidator Schon Condon. When you’re down it’s harder to dodge the blows, and that’s an adage to which Sydney liquidator Schon Condon can well attest after copping his second personal costs order in less than two months. On Monday Federal Court judge Jane Jagot ordered Condon to pay from his own pocket the costs of KordaMentha’s Rahul Goyal and Jennifer Nettleton, who had brought an…


Deloitte server not out of bounds for ex-partner

Ex-Deloitte partner Eddie Senatore. On the face of it, the judgment in the matter of Today’s Homes and Lifestyle Pty Ltd (in liquidation) v McCoullough seems to suggest that Canberra-based practitioner Enzio Senatore might not have access to information saved to a computer server before he departed Deloitte in 2018. The April 6 decision concerns an application seeking to have struck out Senatore’s claim for…


Phoenix accused’s de factos a problem for Pitcher pair

Pitcher Partners’ Andrew Yeo. Pitcher Partners’ Gess Rambaldi. Pitcher Partners’ Andrew Yeo and Gess Rambaldi are venturing into tricky legal waters as they seek to recover more than $1 million they’ve traced to companies linked to alleged phoenix mastermind, Philip Whiteman. In the Federal Court in Melbourne yesterday, the pair – who were first appointed liquidators of Whiteman’s Armstrong & Shaw Group of Companies (A&S…