dVT Group’s David Solomons. dVT’s Riad Tayeh dVT duo Riad Tayeh and David Solomon are in for an intriguing tussle in 2020, with millions of dollars in fees the pair generated as liquidators of the 1st Fleet Group potentially at stake. Back in October last year the dVT pair commenced action in the Federal Court, seeking declarations that the appointment of various people to the…
Tony McGrath. Jason Preston. If nothing else the last few months have shown that there’s still enough cash left in HIH to attract those adept at throttling a profit from a corporate corpse. This week iNO listened as lawyers for class action plaintiffs came before NSW Supreme Court judge Ashley Black to progress a new claim against HIH for misleading and deceptive conduct. The shareholder…
Hall Chadwick’s Steve Gladman. It has taken time but this week the NSW Supreme Court of Appeal delivered its verdict in respect of a contentious casting vote exercised by Hall Chadwick’s Steve Gladman at the second meeting of creditors of Glenfyne Farms, back on October 9, 2018. That vote, which for practical purposes defeated an attempt by Glenfyne’s major creditor to replace Gladman as liquidator,…
Deloitte’s Tim Norman. Plutus Payroll Australia (PPA) liquidators Deloitte’s Tim Norman and Sal Algeri seem to be inching closer to a point when they can apply the blowtorch to various individuals connected with this most notorious of tax-skimming scandals but given the assetless state of the entities to which they are appointed, getting there is costing a bomb. In the NSW Supreme court yesterday, lawyers…
PKF’s Brad Tonks. Imagine, if you are so predisposed, a day when the ASIC database communicates with itself. Information uploaded dissolves instantly into a cyber solution. There it’s compared with every relevant byte of meaning already saturating ASIC’s deep reservoir of data. At quantum computing speeds, the digital litmus satisfies itself, classifying the intel as compliant with the myriad rules and regulations that have been…
PKF’s Brad Tonks. The admission of a related party debt appears to have been sufficient for a court to agree to replace an incumbent liquidator with an applicant creditor’s preferred appointee. In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 NSW Supreme Court judge Ashley Black made orders replacing liquidator Adam Farnsworth with PKF’s Brad Tonks. This was on the application…
BPS Recovery’s Mitchell Ball. Jump on directors, back-dated documents, low ball fees and a common referrer – a disciplinary committee convened to consider whether liquidator Mitchell Ball should remain registered has benched the BPS Recovery partner for a year but declined to cancel his registration. Making its findings public yesterday the committee said that Ball’s contrition, the calibre of those providing endorsements of his character…
Bentleys’ Tracey Knight. Liquidator Jim Downey Craig Walton, a key figure in one of the most controversial corporate restructures of recent times, has declared bankruptcy a week before the commencement of a trial brought by liquidators chasing the 63 year old for a $1.65 million debt. A search of the National Personal Insolvency Index reveals Craig Hall Walton, unemployed of East Melbourne, declared himself bankrupt…
Worrells partner Jason Bettles. Editor’s Note: On Friday, August 18, 2023 Justice Brigitte Markovic of the Federal Court of Australia dismissed ASIC’s case against liquidator Jason Bettles and ordered the regulator to pay Bettles’ costs. Worrells partner Jason Bettles is facing a judicial inquiry amid allegations he facilitated an illegal phoenix scheme concocted by the controllers of the failed Members Alliance Group (MA Group). In…
dVT’s David Solomons. dVT’s Antony Resnick. To say it’s been a while would be to criminally underestimate the time it’s taken for dVT’s Dave Solomons and Antony Resnick to be confirmed in their appointment as administrators of the Carzapp (CZA) group of companies. The pair were appointed in August 2017 but by April 2018 a shareholder who was also one of the three directors of CZA had…