Liquidators

Wily where art thou? Ex-liquidator forfeits cash

Ex-liquidator Andrew Wily (C) exiting the NSW Supreme Court. The problem with retiring to enjoy the fruits of a life’s labours as ex-liquidator Andrew Wily has done is that sometimes you forget about some of the fruit. Back in 1999 Wily was appointed liquidator of a thing called Liquid Vision. “In a sense, Mr Wily has also ceased to exist, at least in his capacity…


Liquidator in limbo – what’s with those agreed facts?

KPMG’s Stephen Vaughan. KPMG’s Gayle Dickerson. Back in mid-July liquidator David Iannuzzi was scheduled to endure three days of gruelling questioning in a Federal Court witness box. The examination was to be the start of the penultimate battle in a war of attrition that began back in September 2017 when the Commissioner of Taxation (CoT) filed a 92-page originating process that listed a most egregious…


Liquidator succeeds in $150k adverse costs appeal

Vincents’ Nick Combis. Vincents’ Nick Combis has been successful in appealing a decision of the District Court of Queensland requiring him to pay $150k in costs after he had sought to claw back more than $350,000 for creditors of Queensland Quarry Group. The ruling last week in Queensland Quarry Group Pty Ltd (in liq) & Anor v Cosgrove [2019] QCA 220 (18 October 2019) means…


Accidental deregistration costs embattled IP $10k

Amos Insolvency’s Peter Amos. Last week iNO revealed that Peter Amos was one of two liquidators being subjected to the scrutiny of an external reviewing liquidator (RevLiq) from ASIC’s panel. This week we learned that it’s not just an ASIC-backed RevLiq that has questions for the south-west Sydney-based IP. During a hearing in the Federal Court on Wednesday we heard how PwC’s redoubtable Scott duo…


PPB

PPB duo reunited as Reed Constructions hearing starts

dVT’s Mark Robinson. PwC’s Daniel Walley. It’s been a long time coming but the insolvent trading claim against directors of Reed Construction Australia (RCA) kicked off in the NSW Supreme Court yesterday and reunited in the court were two members of the PPB alumni. Readers may recall that former PPB favourite son Mark Robinson was appointed by the courts to wind up RCA back in…


Fair Work Ombudsman redefines DoCA limits

Deloitte’s Neil Cussen. Ex-Deloitte Canberra partner Eddie Senatore. Those familiar with the decision of the Federal Court in Fair Work Ombudsman v Foot & Thai Massage Pty Ltd (in liquidation) [2019] FCA 1601 will know that it has some interesting implications for insolvency practitioners in terms of what claims are and are not extinguished by a DoCA, as well providing lurid and engaging details in…


Liquidator Peter Amos subject of RevLiq scrutiny

Subject to a RevLiq: Amos Insolvency’s Peter Amos. Editor’s Note: iNO reported in an earlier version of this story that AAF funds would be recovered via the Industry Funding Levy. ASIC has since advised that this is NOT the case. After reporting last week on the appointment by ASIC of two Reviewing Liquidators (RevLiqs) iNO has learned that one of the unfortunates under review is…


Hall Chadwick Sydney partners miss court deadline

Hall Chadwick’s Richard Albarran. Barrister Geoff McDonald. Hall Chadwick might be doing very well in respect of its share of the national appointments pie but on Monday certain members of the Sydney partnership – present and past – received the judicial equivalent of a right bollocking. Partners Richard Albarran, David Kenney, Drew Townsend and Gino Malacco, along with former partners Paul Leroy, Geoff McDonald and Rob Elliott, have for…


Cor Cordis pair to pay $10k for bungled deregistration

Cor Cordis partner Alan Walker. Being replaced as liquidators is no reason to lodge a Form 5603 (End of administration return) with ASIC but that is what Cor Cordis partner Alan Walker apparently did back in January this year after he and colleague Jason Bing-Fai Tang were ousted a month earlier. The unfortunate consequence of this error was that the replacement liquidators – PwC’s Daniel…


Reviewing liquidator engagements to test ASIC

Worrells partner Simon Cathro. Brooke Bird’s Robyn Erskine. Apart from ASIC’s April 2019 Corporate Insolvency Update there’s been precious from the regulator in regards to the work of the Reviewing Liquidator’s (RevLiq) Panel, set up at the beginning of the year to give effect to the Insolvency Law Reform Act 2016 (ILRA 2016) reforms. iNO had hoped that would change this week after we sent…