Attributing guilt by association is an avoidable injustice (unless justified) which is why INO declares at first instance that not one of the five liquidators named this week in the Federal Court are alleged to have done anything wrong. The five – Richard Rohrt, Glenn Crisp, Malcolm Howell, Travis Pullen and Andrew Poulter – were identified during the course of the public examination of Melbourne man Phil…
Barry Taylor’s plans to lure a Queensland-based registered liquidator into the HLB Man Judd fold have again been foiled after John Shanahan of Gervase Consulting decided not to proceed with a joint venture the two parties have apparently been mulling over for some time. Sources said the parties had been close to a deal but that Shanahan decided the fit wasn’t quite right and he was…
Word is that De Jonge Read director Ashley Shield may have spent some time in the witness box this week during examinations into the affairs of Trigger Holdings Pty Ltd. Details are sketchy with the courts refusing to release details and Trigger’s liquidators clamming up when INO called seeking specifics. What we do know is that a director and a former director of the company were…
More detail has emerged about the possible phoenix transaction that has embroiled FTI Consulting’s Joanne Dunn in an unseemly scrap with the Commonwealth’s FEG Recovery Unit. In Commonwealth of Australia, in the matter of ACN 093 117 232 Pty Ltd (in liquidation) v ACN 093 117 232 Pty Ltd (in liquidation) [2018] FCA 1922 Federal Court Justice Roger Derrington has granted FEG orders for the appointment of a special…
FTI Consulting’s Joanne Dunn has been supplanted by a special purpose liquidator (SPL) after the Commonwealth’s FEG Recovery Unit decided it wanted someone else to investigate possible phoenix transactions involving companies within the Intelara Group (Intelara). Last week in the Federal Court Justice Roger Derrington heard that FEG wanted Perth-based practitioner Jack James appointed SPL of a company known only by its Australian Company Number –…
When’s money held on trust and when is it not? It’s a question that’s probably exercised the minds of FTI Consulting’s John Park and Kelly Anne Trenfield at least on occasion over the last couple of years in their roles as liquidators of claims assessor Stream Group (Aust) Pty Ltd (SGA) and NSW Supreme Court judge Ashley Black yesterday provided an answer. In his judgment In the…
You know views on a course of action have become estranged when one set of insolvency practitioners asks a court to inquire into the conduct and remuneration of another set of insolvency practitioners. That however is what has happened to Pitcher Partners Andrew Yeo and Gess Rambaldi, who for almost two years have been engaged in an attritional struggle with Mark Korda, a struggle which…
An application to the Federal Court seeking to surrender insolvency appointments has shed fresh light on the fate of various PPB Advisory staff and partners following its acquisition by PwC. The judgment of Justice Kathleen Farrell in Theobald, in the matter of Bowesco Pty Ltd (in liq) [2018] FCA 1725 details how Simon Theobald and Mark Robinson recently sought orders to effect their resignations as either official liquidators or…
Next time you’re bemoaning the cost of ASIC searches spare a thought for Jamieson Louttit. The Sydney IP was appointed liquidator of Sydney TY International Consulting Pty Ltd on November 7, 2018 following an application by the Deputy Commissioner of Taxation (DCoT) to wind up the company. As it turns out, the director of Sydney TY International Consulting is the director of a further 97 companies,…
Liquidator Anthony Warner could potentially face a hefty payout to former colleague and partner Steve Kugel following a judgment handed down this week by NSW Supreme Court Justice Guy Parker. In the 30,000 plus word judgment of Shazbot Pty Ltd v Warner Capital Pty Ltd [2018] NSWSC 1645 Justice Parker has painted an at times less than flattering picture of Warner in respect of the machinations he…