Liquidators

Liquidators recover $2m plus costs from ATO

Hall Chadwick’s Richard Albarran. Richard Albarran and David Ross have had quite a win in the NSW Supreme Court, with a judge ruling $2 million paid to the Commissioner of Taxation (ATO) by Western Port Holdings (WPH) whilst it was subject to a deed of company arrangement (DoCA) should be handed back. But will the decision prevail if an appeal is heard? The court’s ruling,…


Risks to SBRP highlighted in ruling on winding up

Integra Restructuring & Insolvency principal Adam Preiner. An application to adjourn the hearing of a winding up application whilst the applicant is subject to the Part 5.3B small business restructuring regime illuminates some of the potential risks facing registered liquidators who accept appointments as a Small Business Restructuring Practitioner (SBRP). In this case the liquidator is Sydney-based Adam Preiner of Integra Restructuring & Insolvency (INTRI)…


Spine in Hall Chadwick paw resists dislodgment

Etienne Lawyers Steven Brown. Hall Chadwick’s Richard Albarran. Hall Chadwick Sydney partners are slowly but surely being dragged closer to a day of either reckoning or redemption in respect of allegations of deceit going back to 2005, with NSW Supreme Court judge Guy Parker last week agreeing to allow mightily vexed (and determined) creditor Owen Salmon to amend his statement of claim. In Salmon v…


dVT pair to appeal Timbercorp ruling

dVT’s Riad Tayeh dVT Groups Antony De Vries dVT Group founders Riad Tayeh and Antony De Vries have instructed their lawyers to appeal a judgment that could see them facing bankruptcy proceedings in respect of investor loans issued by failed agri-scheme operator Timbercorp. Solicitor Marc Ryckmans of Somerset Ryckmans today confirmed that his clients had instructed him file an appeal to the judgment of Victorian…


What’s in a word – dVT boss tackles Lloyds of London

dVT’s Riad Tayeh dVT Group’s Riad Tayeh has plenty on his plate in this, the second year of the 21st century’s first pandemic. For starters the mid-tier firm’s co-founder may have to facing potentially ruinous recovery action courtesy of Timbercorp liquidators Craig Shepard and Mark Korda after the KordaMentha duo extracted a favourable decision from Victorian Supreme Court last month. As a consequence, Tayeh and…


Privilege dispute leaves liquidator with costs

Cor Cordis Melbourne partner Bruno Secatore. The week wouldn’t be complete if we didn’t revisit briefly the ongoing slugfest between Cor Cordis Melbourne boss Bruno Secatore and Deloitte as the former delves into the latter’s lengthy involvement with the Bob Jane tyre empire. As liquidator of Bob Jane Group entity Last Lap Pty Ltd Secatore has succeeded in having summonses for public examination issued to…


Ex-Deloitte partner quizzed over Last Lap restructure

Cor Cordis Melbourne partner Bruno Secatore. Deloitte Restructuring Consultant Simon Wallace-Smith. Eventful on multiple levels best describes yesterday’s public examination (PE) of former Deloitte partner and now consultant Simon Wallace-Smith, who was being questioned about his former tenure as liquidator of Last Lap Pty Ltd by counsel for the current incumbent. To start with, there were problems with all the parties being on the same…


Talent Transfer: More Deloitte defections

Michael Billingsley has left Deloitte and joined Cor Cordis. Whilst we wouldn’t want readers to think today’s edition is all about Deloitte and Cor Cordis iNO couldn’t resist the opportunity to indulge in some “you heard it here first” triumphalism. The occasion which gives us cause to crow is the confirmation by liquidator Michael Billingsley that he has joined what seems something of an exodus…


For Bettles or Worse ASIC seeks life ban

Worrells partner Jason Bettles. The corporate regulator has returned to the fray in its ongoing campaign to rub out Jason Bettles, calling for the Worrells partner to be stripped of his liquidator’s ticket and banned for life. In a 160 page Statement of Claim filed in the Federal Court last week, ASIC alleges that Bettles’ conduct in respect of the Members Alliance Group of Companies…


AFSA acts after court suspends liquidator

Macks Advisory’s Peter Macks. AFSA deputy ceo Gavin McCosker Adelaide resident and insolvency practitioner Peter Macks would no doubt have anticipated this week’s announcement by the Australian Financial Security Authority (AFSA) advising that it had sent him to the naughty corner. It was less than a fortnight ago that a judge of the Supreme Court of South Australia suspended Macks’ registration as a liquidator for…