The middle of a national rebranding campaign is not when a firm wants one its most senior and prominent practitioners to be unfavourably exposed but following publication of a disciplinary notice by ARITA, Cor Cordis finds itself in such a position. Posted on the ARITA website last Friday, the notice discloses that Ozem Kassem, one of Cor Cordis’s senior partners in NSW, has been expelled from…
ASIC’s long pursuit of Randall Joubert looks set to finally conclude after the Administrative Appeals Tribunal (AAT) yesterday affirmed a 2016 decision of the Companies Auditors Liquidators Disciplinary Board (CALDB) recommending that Joubert’s registration as a liquidator be cancelled. In Joubert and Members of the Companies Auditors and Liquidators Disciplinary Board [2018] AATA 944 (19 April 2018) AAT deputy president Brian Rayment QC said in conclusion: “I…
David Leigh, the former PPB Advisory (PPBA) partner who stunned the profession after it emerged he had allegedly pinched $800,000 to pay debts, is set to stun again. In the Supreme Court of Queensland yesterday, Leigh filed a notice of intention to defend a claim for recovery of the funds, launched on February 28, 2018 by PPBA. From what can be gleaned from the document…
Sydney liquidator Randall Joubert will soon know whether his registration is to be cancelled after hearings in the Administrative Appeals Tribunal (AAT) appeared to conclude on Monday. We say appeared only because one can never be sure with such an interminable sequence of proceedings – they commenced in May 2016 – but after attending the hearing it was evident that AAT deputy president Brian Rayment had…
It may not exert the intimidatory malevolence of an MUA picket just yet but Subbies United (Subbies) is making its presence felt, having engineered another coup against an incumbent liquidator deemed too close to their appointor. Latest to feel the sting of the sub-contractors’ champion is SV Partners’ Matt Bookless, who was ousted as liquidator of Future Urban Residential Pty Ltd last week at a meeting convened…
As PwC runs the ruler over PPB Advisory (PPBA) ahead of a possible takeover later this year it’s worth noting that legacy issues like the consequences of the alleged fraud perpetrated by ex-partner David Leigh will be on the minds of both sides. For PPBA, that involves dealing with the fallout from Leigh’s decision last year to transfer $800,000 from the liquidation account of Neolido Holdings to Bank…
Sibling liquidators Sule Arnautovic and Amanda Young were having a little trouble yesterday trying to persuade Federal Court Judge Kathleen Farrell to approve a funding deed that will govern $450,000 the Jirsch Sutherland pair are to deploy investigating an alleged phoenix transaction. The funding has been put up by GDK Projects, which on January 21, 2015 won judgment against Umberto Pty Ltd, the former operator of Candelori’s…
Riad Tayeh came within a whisker of a plumb provisional liquidators role yesterday but Steve Parbery and Glenn Livingstone pipped the dVT Group principal at the post. Although late comers, the PPB Advisory pair also vaulted over five others lined up with consents to act as provisional liquidators of NR Wolli Creek, which ANZ placed into receivership in June 2015. The five were EY’s Marcus Ayres and Brett Lord,…
As PPB Advisory’s Glenn Livingstone and Steve Parbery look on in their capacity as provisional liquidators of Synep Pty Ltd, one of the men accused of involvement in Australia’s largest company tax fraud has shown himself to be an optimist if nothing else, having commenced legal action in the Federal Court against the provider of his directors and officers (D&O) insurance policy. Jay Onley, who…
In the space of a few weeks in March Australia’s courts have delivered three verdicts that will only embolden the zealous litigators of the Department of Employment’s FEG Recovery Unit, who could hardly have been accused of timidity prior to the fortuitous trifecta of appellant outcomes so recently handed down. The chest thumping would’ve been longest and loudest on Wednesday evening this week after a Full…