Retired dVT Group co-founder Anton de Vries dVT Group partner Riad Tayeh The High Court of Australia has quietly restarted an unwelcome deadline for dVT Group founders Anton de Vries and Riad Tayeh. By refusing the pair’s application for special leave to appeal against a judgment of the Supreme Court of Victoria’s Court of Appeal in the matter of Timbercorp Finance Pty Ltd, the High…
SV Partners Perth Director Malcolm Field. One creditor wanted his proof of debt admitted in full. The liquidator admitted it in part. The rival creditor wanted it rejected completely. What judge wouldn’t invoke the Goldilocks premise? In this case the judicial eminence so moved was the Supreme Court of West Australia’s Master Craig Sanderson. His honour had been called upon to resolve a dispute between…
Inevitably, measures implemented to cope with COVID 19 lockdowns would generate consequences unforeseen but few could have predicted that an initiative intended to preserve jobs would lead to a judge slashing a liquidator’s fees. That however is precisely what’s happened to Jirsch Sutherland managing partner Bradd Morelli, who saw his claim for almost $25,000 in remuneration lopped by $10,000 after a judge ruled that by…
Hall Chadwick’s Richard Lawrence. PKF’s Paul Allen. When liquidators get punted by creditors who then block payment of their unpaid fees, you know that the change of appointees represents not so much an end but a beginning. For Hall Chadwick’s Richard Albarran and Richard Lawrence, their role switched to that of the out-of-pocket ex-liquidators of Tauro Capital at a meeting of the company’s creditors on…
Cor Cordis Melbourne partner Bruno Secatore. Cor Cordis partner Neil Cussen. You have to wonder why successful, experienced practitioners accept appointments as administrators when they know there’s winding up applications afoot, other entities in the group are already in liquidation and according to their DIRRI, no indemnity in the offing. Is it evidence of a healthy appetite for risk? Or the desperation that prevails in…
OPINION Less than 10 per cent of registered liquidators (RegLiqs) are female according to the latest ASIC data, suggesting initiatives aimed at increasing the proportion of female insolvency practitioners seeking and attaining registration are either inefficient or misguided. The Regulator’s latest Insolvency Statistics series, published in January 2022, shows there were 589 male RegLiqs domiciled in Australia and 57 female RegLiqs in the year 2020…
SM Solvency Accountants’ Jarrod Sierocki. Retired liquidator Brendan Nixon. iNO’s prediction that the retirement of Queensland liquidator Brendan Nixon would make it difficult for businessman Jarrod Sierocki to continue in the insolvency space appears to have come to pass. In recent weeks SM Solvency Accountants and Insolvency Guardian – the two main businesses through which Sierocki dabbled in the business of bankruptcy and wind up…
Magnetic Insolvency’s Peter Goodin. Menzies Advisory’s Michael Caspaney. Counsel for resurrected builder Modscape Pty Ltd has been at it again, pillorying one of the company’s former external administrators for seeking remuneration and costs for his defence of an application for a fee review commenced by Modscape in the Federal Court last year. “Unbelievable” Modscape’s barrister Ben Murphy said yesterday in describing Michael Caspaney’s claim for…
Duff & Phelps’ Marcus Ayres. Duff & Phelps’ Steve Parbery. As iNO reported last week, Duff & Phelps duo Marcus Ayres and Steve Parbery have had their hands full winding up Queensland coal mine operator ICRA Rolleston Pty Ltd (ICRA). ICRA’s sole director – John Phillip Canavan – suspects the pair of having a conflict with ICRA’ former joint venture partner and his nemesis Rolleston…
Duff & Phelps’ Marcus Ayres. Duff & Phelps’ Steve Parbery. Like most insolvency practitioners Marcus Ayres and Steve Parbery have plenty of experience with being unwanted. It comes with territory, and while that might prompt speculation about the personality type best suited to a long career in insolvency, for present purposes iNO would like to bring to your attention the administration of ICRA Rolleston Pty…