KPMG partner Stephen Vaughan. KPMG Partner Ian Hall. The interim divvie’s distributed, it’s twin awaits only delivery of a judgment reserved and now an application for remuneration – brought by BBY Limited’s liquidators Stephen Vaughan and Ian Hall in 2017 and adjourned in 2018 – has at last come to pass. “The total value of the assets (CSAs and recoveries) for which the liquidators have…
Ex RSM partner Dave Mutton – another liquidator going it alone. RSM Partner Jonathan Colbran. If liquidators leave their firms to start a new venture and take none of their appointments does that indicate that a parting was less than amicable? Not necessarily is the only appropriate reply to such rhetorical gambits but the thought occurred to iNO – as such malignancies tend to –…
Farshad Amirbeaggi. Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. A liquidator’s estimate of a return to creditors of between 51 cents and 100 cents in the dollar may have been imperilled after attempts to appoint a receiver to sell a luxury property in Bali were rejected by the courts. In failing to have a receiver appointed Hayes Advisory principal and liquidator of Sirrah…
RSM’s Frank Lo Pilato. RSM partner Frank Lo Pilato has had to take a haircut on his fees and expenses on the liquidation of Circular Quay Restaurants Pty Limited after an absence of funders forced him to settle on pauper’s terms with the family of corrupt former Labor politician Eddie Obeid. As was revealed in the NSW Supreme Court on Monday, Pilato agreed to the…
McGrathNicol partner Robyn McKern. Grant Thornton’s Said Jahani. If dignified crowing is heard during the next McGrathNicol zoom meeting of partners iNO won’t be surprised. It’s not every day that a forensic accountant has their sums validated by a Federal Court judge. “The referee concluded that the group of companies was insolvent from 31 January 2017 and thereafter. That is in contradistinction to the opinion…
Deloitte partner Robert Woods. Cor Cordis partner Daniel Juratowitch. iNO has rarely read a decision where so many irregularities have been forgiven on the way to ruling in favour of an appellant seeking to terminate a winding up. Yet in Re The Thoroughbred Consultants Pty Ltd [2021] VSC 627 we have detailed reasons why Supreme Court of Victoria judge Michael Osborne decided that a winding…
BRI Ferrier’s Peter Krejci. FerrierSilvia’s Brian Silvia. If there was anyone happier with the outcome detailed in Jin Lian Group Pty Ltd (in liq) v ACapital Finance Pty Ltd (No 2) [2021] NSWSC 1202 than property investor Owen Chen then it was probably BRI Ferrier partner Peter Krejci. “What is certain is that the proceedings would have come to an end on 14 August 2020…
McGrathNicol partner Jason Ireland. Funding and freezing orders were to the fore yesterday as lawyers for Westpac and alleged fraudsters Bill Papas and Vincenzo Tesoriero returned to the fray before Federal Court judge Michael Lee. “I’d be interested to hear from the liquidator and if the only obstacle is purchasing a ticket then I would’ve thought that the liquidator would want him back but the…
O’Brien Palmer’s Daniel Frisken. O’Brien Palmer partner Daniel Frisken has had to go to Court to have his June 16, 2021 appointment as voluntary administrator (VA) of NPH Group validated after the company’s sole director conceded he’s a bankrupt. On Wednesday Federal Court judge Elizabeth Cheeseman heard that Frisken needed to have confirmed his appointment as both VA and as liquidator of the troubled builder, the latter…
ASIC, all powerful approver and refuser of applications from those aspiring to be registered as liquidators, has arrested the worrying decline in the accountancy sub-species with latest figures showing the number of RegLiqs has bounced off a 20 year low. In its recent Licensing and professional registration activities: 2021 update the regulator revealed that after approving 31 applications for registration in the period from July…