FEG Active Creditor Recovery Unit Director Henry Carr. As iNO reported recently, Commonwealth FEG recovery Czar Henry Carr doesn’t like losing which is why it’s no surprise to learn that the taxpayer-backed Active Creditor Unit has filed a notice of intention to appeal in respect of the decision In the matter of BCA National Training Group Pty Ltd (in liq) [2023] NSWSC 366. The notice…
SV Partners’ David Stimpson. PwC’s Melissa Humann. Good old Government. Neither model litigant nor it seems, lender be, at least not in the mind of one general purpose liquidator (GPL) sitting on millions of yet to be distributed dollars while special purpose liquidators (SPLs) do the investigatory hard yards. Such anxiety does this GPL harbour in regards to the New South Wales Government in its…
CRS Warner principal Anthony Warner Steve Kugel of The Insolvency Experts. The seemingly endless wrangling over money owing by one insolvency practice partner to his former practice partner might actually be reaching a conclusion eight years after the pair split, with a NSW Supreme Court judge yesterday ruling on the final issues in dispute. “The defendants ask me to accept that, faced with the need…
Insolvency marked another milestone last week when former Ferrier Hodgson partner Gary Trevor completed the torturous winding up of Bell Group NV (BGNV) almost three decades after being appointed liquidator by Australian courts of an administration ancillary to its parent insolvency in the Caribbean jurisdiction of what was then the Netherlands Antilles. In the Supreme Court of West Australia the Perth insolvency veteran obtained orders…
IRT Advisory’s Andrew Poulter. Following publication of lurid details involving sham arrangements, straw directors and shadowy puppet masters, iNO asked the liquidator responsible for uncovering the imbroglio if he’d reported his findings to ASIC. As it turns out, he had. IRT Advisory’s Andrew Poulter lodged a section 533(1) report with ASIC in January 2018 in respect of what smelled like the liquidation of convenience of…
Hall Chadwick’s Richard Albarran. Hall Chadwick partner Kathleen Vouris. Accepting appointments as administrators can be fraught if it comes after winding up proceedings have commenced. Get the money up front at all costs must be the mantra, but in the following tale iNO can only speculate as to whether Hall Chadwick pair Richard Albarran and Kathleen Vouris were paid what they were promised before they…
The late Sam Henderson. Insolvency Options principal Darren Vardy. Recently deceased insolvency practitioner Sam Henderson was seemingly in the thick of things to the very end, with a Federal Court judgement detailing meetings the former Jirsch Sutherland partner had with a liquidator in the weeks before he was found dead at a North Sydney hotel on April 4. “I was satisfied that there was good…
Hamilton Murphy partner Trent Hancock. Liquidators with no funding will be relieved to learn that entering into a contract to assign a chose in action is not invalidated simply because it’s the assignee applying for court approval rather than the liquidator. The question came before NSW Supreme Court Corporations judge Ashley Black yesterday after two parties turned up seeking leave to be heard in opposition…
Ex-FEG litigation guru Stephen Humphreys. Clover Risk Funding’s Neil Cussen. Cor Cordis partner Neil Cussen is striking out on a new career path, joining with former FEG litigation operative Stephen Humphreys to launch a best-in-practice litigation fund targeting claims under $10 million. Speaking to iNO this week Humphreys confirmed he and Cussen were negotiating how to team up at Clover Risk Funding, though he said…
BRI Ferrier partner Peter Krejci. “Transcript! I must have transcript,” the appeals court president might well have thundered. When appellant court judges are delivered a white book unfit for a dog’s breakfast and receive material in their chambers on the morning of the hearing that hasn’t been served on the respondent well, tempest can be reliably forecast. And inevitably in such circumstances, a bench’s collective…