We can’t be certain at this early stage of our Sinvestigation but the recent move by the Deputy Commissioner of Taxation (DCoT) on the incumbent liquidators of Italian Prestige Jewellery bears a passing resemblance to the DCoT’s GST-avoidance case against ABC Refinery. Orders handed down by Justice Brigitte Markovic yesterday in the Federal Court reveal that the DCoT has applied to have “proposed additional liquidators”…
PPB Advisory’s lengthy association with the troubled Neolido Holdings ended yesterday and so complete was the severance that the top tier firm was denied even its preferred choice of replacement liquidators. As SiN reported in Collateral Damage: Sparks To Resign From Neolido PPBA partner Grant Sparks applied last week to resign as liquidator of Neolido Holdings in the wake of the misappropriation allegations levelled at his former…
Trawling the Supreme Court of Queensland website might not sound a rewarding practice but it’s one way to keep abreast of the continuously evolving story around ex-PPB Advisory partner David Leigh and the $800,000 he allegedly misappropriated from the liquidation account of Neolido Holdings. As SiN recently commented, the circumstances around the misappropriation meant it was always going to be difficult for Neolido’s joint appointee…
Seems that when a liquidator is being pursued for costs by a lawyer in a local court, trying to resolve the issues via the costs assessment process is not going to fly, at least not according to NSW Supreme Court judge Francois Kunc. WKA Legal Pty Ltd v Gleeson [2018] NSWSC 318 details how liquidator and Jones Partners principal Bruce Gleeson has for several years been at…
Well we are in for a suspenseful weekend but SiN has it on exemplary authority that Jirsch Sutherland’s Brisbane office and Ginette Muller’s GM Advisory are on the cusp of merging. A source close to the talks said that barring any complications the deal is set to be inked on Monday, March 19. Assuming it proceeds Muller will very soon be reunited with her old underling from…
You win some you lose some it seems with Jirsch Sutherland’s sibling practitioners Sule Arnautovic and Amanda Young scooping up a gig as special purpose liquidators (SPLs) of Umberto Pty Ltd, the former owner of Candelori’s Restaurant, after SV Partners’ Shumit Banerjee and Jason Porter apparently found aspects of the proposed funding agreement not to their taste. The four practitioner’s names came up in proceedings in the Federal Court…
On Monday dVT partners Riad Tayeh and David Solomon narrowly avoided an indemnity costs order sought by their old mates from the Department of Employment’s FEG Recovery Unit. FEG had sought orders that Tayeh and Solomons personally pay FEG’s costs of proceedings it brought in November 2017 to have the dVT’s pair replaced as liquidators of Damilcrest Pty Ltd after they had previously declined three times to resign voluntarily…
The alleged misappropriation of $800,000 from the liquidation account of Neolido Holdings by David Leigh will produce plenty of fallout for his ex-colleagues at PPB Advisory (PPBA) and no partner is closer to ground zero than Grant Sparks. SiN makes no suggestion that Sparks was in any way complicit in the alleged fraud or negligent but as joint liquidator of Neolido Holdings he, like any other…
Some time this morning the Queensland Court of Appeal will deliver its judgment on the appeal against the April 2017 ruling of Queensland Supreme Court Judge David J Jackson, who determined that the liquidators of Linc Energy were not entitled to instruct the company to ignore an environmental protection order (EPO) issued after their appointment as voluntary administrators (VAs) in April 2016. SiN understands that with…
The more SiN learns about how ex-PPB Advisory (PPBA) partner David Leigh allegedly misappropriated $800,000 from the liquidation account of Neolido Holdings, the more difficult it is to believe that he believed it wouldn’t fail. This was no devilish scheme, no fiendish deception, exposed only by the most unlikely twist of fate. As the excerpt from the critical Form 524 below shows, Leigh simply replicated payments being…