Liquidators

Costs order looming over disputed proof of debt

Hall Chadwick’s Ginette Muller. Grant Thornton’s Mike McCann. iNO hears costs north of $50,000 are likely to be ordered against Hall Chadwick’s Ginette Muller and Marcus Watters after they took a tilt in the Supreme court of Queensland at Grant Thornton’s Mike McCann and Said Jahani over a rejected proof of debt. Back in 2018 the Hall Chadwick pair, as liquidators of Rimfire Constructions Pty…


Lethal delay sinks liquidator’s voidables play

PCI Partners’ Stephen Michell. Leaving it till the last day to seek an extension of time in which to consider bringing voidable transaction proceedings has rebounded badly on Melbourne-based liquidator Stephen Michell. Last week the parties who would’ve been the subject of those voidable transaction proceedings – assuming the PCI Partners’ principal launched them – won an appeal in the Supreme Court of Victoria which…


Jirsch clings to defector’s dozen

Marcus Watters – A dozen jobs the price of joining Hall Chadwick. With the departure of Marcus Watters, Jirsch Sutherland has lost a senior Queensland operative to rival Hall Chadwick but it’s clung tenaciously to the departee’s dozen or so appointments, ensuring whatever worthwhile WIP might reside in those jobs has been kept out of the coffers of Jirsch’s fiercest foe. Watters moved to Hall…


ARITA subpoenaed as Cor Cordis duo biff with insurer

Cor Cordis NSW partner Ozem Kassem. Image courtesy Cor Cordis. It’s probably not every day the chief professional body for registered liquidators and bankruptcy trustees cops a subpoena but it happened recently in regard to former member and Cor Cordis partner Ozem Kassem. Kassem was expelled from Australian Restructuring Insolvency and Turnaround Association (ARITA) in April 2018 for refusing to engage an independent assessor to…


Liquidators fined twice for same independence breach

dVT’s Suelen McCallum. dVT’s Riad Tayeh dVT duo Suelen McCallum and Riad Tayeh haven’t had the best of starts to the year of the sneezing pangolin with the Disciplinary Tribunal of Chartered Accountants Australia and New Zealand (CAANZ) dishing out fines and a professional censure in respect of a breach of the accounting profession’s byzantine APES code. As well as being slugged $8,500 each for…


TALENT TRANSFER – Duff & Phelps snares PPB alumni

Duff & Phelps’ Ken Whittingham. Signed with Duff & Phelps: Marcus Ayres. For some time Talent Transfer has been wondering where insolvency veteran Ken Whittingham would land since departing PwC. Now we know. The former PPB partner, who endured less than a year at the big four consultancy before succumbing to the conflict-a-thon, has emerged in a senior role at the Sydney office of global…


Related party defendants fail in bid for exclusion

Grant Thornton’s David Hodgson. Grant Thornton’s Andrew Hewitt. Over in the sand groper state Grant Thornton’s David Hodgson and Andrew Hewitt have had some joy as they herd related-party creditors acting like aristocratic cats unwilling to mix with those common moggies in receipt of garden-variety preferences. In David Mark Hodgson as joint and several liquidators of Diploma Construction (WA) Pty Ltd (In LIQ) (Receivers and…


Liquidator’s debt proof rejection could cost

Liquidator Schon Condon. A decision by a Sydney liquidator to refuse the bulk of a $423,935.53 proof of debt looks set to be reversed following the handing down of a judgment in the NSW Supreme Court. In the matter of Azmac Pty Limited (in liquidation) [2020] NSWSC 204 Justice Kelly Rees details how Schon Condon, as liquidator of Azmac Pty Limited, knocked back the bulk…


UK judges side with Oz Liqs over spreadsheet error

If you are in doubt about the capacity for bloody-mindedness among and within the big four accounting firms read on as iNO recounts how administrators of a Lehman Brothers entity in the UK and Lehman-associated liquidators in Australia slugged it out in the courts for almost four years over an error in a spreadsheet. The tale comes courtesy of the Royal Courts of Justice in…


Liquidator to pay NRL costs as summonses set aside

Anequity principal Andrew Needham. Sydney liquidator Andrew Needham may be ruing the day he consented to act as liquidator of a company with potential claims against the National Rugby League (NRL) in the wake of judgment In the matter of Newheadspace Pty Limited (in liq) [2020] NSWSC 173. On Wednesday NSW Supreme Court judge Kelly Rees ordered that examination summonses issued to NRL chief executive…