Liquidators

Cullen creditors replace liquidators

Creditor revolt on Cullen Group

Queensland construction industry creditors have been getting the pineapple – either end is a daunting prospect – since at least 2013 when the still unfolding collapse of Walton Constructions commenced, and if this week’s events in the state of committees is any guide, restive grow the natives. On Tuesday, trade creditors of mid-tier building firm Cullen Group turned out in droves at the first meeting…


Federal Court to rule on special purpose liquidator application

SPLs for ABC as ATO moves to replace Condon

The Australian Tax Office (ATO) has asked the Federal Court to appoint Korda Mentha’s Rahul Goyal and David Winterbottom special purpose liquidators (SPLs) of a company formerly known as ABC Refinery Pty Ltd in a move that would supplant general purpose liquidator (GPL) Schon Condon and focus the ATO’s GST fight with the precious metal refining sector squarely on the owners behind the Pallion precious metals group. In…


Victorian liquidator suspended

CALDB suspends Victorian liquidator

Two weeks before Christmas Melbourne-based insolvency practitioner Stan Traianedes received the most thoughtful of gifts from the Companies Auditors and Liquidators Disciplinary Board (CALDB) – a three year suspension that will allow him ample time to pursue his passion for photography. The Hall Chadwick alumnus – who until his lengthy benching practiced under the name S&Z Insolvency from offices in ritzy Parkville – was hauled before CALDB…


asic launches legal action against liquidators

ASIC asks court to ban Wily and Hurst

The corporate regulator has ensured 2017 starts with a bang by asking the NSW Supreme Court to inquire into the conduct of Armstrong Wily principal Andrew Wily and former partner Dave Hurst in relation to their conduct of liquidations associated with Crystal Car Wash Cafe. Neither defendant was free to comment when contacted by SiN. The full text of the ASIC release follows. ASIC has lodged an…


Liquidato rin the middle of war between ATO and gold refiner

Breaking – ATO sues gold refiner for $200 million

The Australian Tax Office (ATO) has launched a $200 million claim in the Federal Court against ABC Refinery Pty Ltd, four months after the company’s directors resolved to wind up the Sydney-based gold refiner and appointed Condon Associates’ Schon Condon as liquidator. Lawyers for the Deputy Commissioner of Taxation (DCOT) lodged an originating process and supporting affidavit in the Federal Court last Friday. Neither Condon or ABC…


Copeland and Whitton repel usurpers

Well they’ve done it. Brendan Copeland. Robert Whitton. Two of William Buck’s finest. They’ve beaten off a concerted effort to have them replaced as liquidators of Ridley Capital Holdings (RCH). John Sheahan and Ian Lock, who’d consented to act in their place, can only ponder what might have been. Copeland and Whitton’s position was confirmed on Wednesday via the judgment of Supreme court Justice Ashley…


Cor Cordis adjourns creditors meeting again

Cor Cordis adjourns again as ATO plays coy

The Australian Taxation Office (ATO) is making life a tad difficult for Cor Cordis partners Ozem Kassem and Jason Tang with a judge this week hearing that the joint liquidators of Project 1876 Pty Ltd needed to reschedule a meeting of creditors for a second time. SiN understands the application was made so as to allow the ATO, which is the company’s major creditor, more time to consider a most…


Swan Services insolvent trading finding

Liquidator clinches insolvent trading ruling

Liquidator Anthony Elkerton has secured a crucial win for creditors of Swan Services Pty Limited with a judge finding that the company’s director allowed one of Australia’s largest contract cleaning enterprises to operate whilst insolvent. In the NSW Supreme Court yesterday Justice Ashley Black ruled that neither Swan Services director Robert John Swan or company executive and ex-wife Judith Louise Swan had reasonable grounds to…


PPB cops pasting for lack of haste

PPB Advisory and in particular Melbourne partner Craig Crosbie have copped some trenchant criticism in the judgment of Hastie Group Limited (In Liquidation) v Moore [2016] NSWSC 1682, delivered on Wednesday by NSW Supreme Court Justice Michael Ball. “… just wrong…”, “… no or very limited work …” and ” .. delayed unreasonably …” conveyed the general tenor of the judge’s reasons, made more withering by the…


Krejci and Green hunting for funding

The Supreme Court of Western Australia has given AE&E Australia’s liquidators some critical breathing space in their fight against Sino Australia by ordering that they can deliver $320,000 required as security for costs for a legal challenge in one lump sum rather than in three tranches. In a judgment handed down last week Justice Ken Martin ruled that BRI Ferrier’s Peter Krejci and Martin Green could have until…