Andrew Barnden and Rob Moodie were the subject of some less than glowing remarks this week in Lum v M V Developments (Lane Cove) Pty Limited (in liquidation) [2016] NSWSC 1248 but there are complexities that made this dispute a tough one to resolve for the Rodgers Reidy pair and an appeal cannot be ruled out. Moodie told SiN the judgment’s conclusions were not what either he or…
It was one of those rare instances when the application of a proportionality percentage aligned with the fees that liquidators had calculated using their own hourly rates. But as often happens with opportune outcomes, special circumstances held sway. First and foremost was the nature of this liquidation. There were two entities, neither insolvent. One had no directors. The other had directors who were siblings and “deadlocked”….
Queensland insolvency practitioner David Clout has told SiN that he didn’t like “going after another practitioner” so perhaps at some deep, subconscious level any discomfort stemming from his decision to sue Peter Dinoris and Nick Combis for breach of duty and seek damages may be assuaged now the company he controls as liquidator has been ordered to pay the Vincents‘ partners’ costs. In his judgment of…
If it had a spare moment to reflect, the spectre of proportionality would realise Justice Paul Brereton isn’t the only judge it has to thank for the frequency of its invocation. Another recent invokor is the NSW Supreme Court’s Justice Stephen Robb, who last week summoned the liquidator-terrorising shade to cloud the fortunes of David Clout. In the matter: David Lewis Clout in his capacity as Liquidator of Mainz…
The foreign creditor seeking to eject Rob Whitton and Brendan Copeland as liquidators of Ridley Capital Holdings (RCH) has lined up John Sheahan and Ian Lock as their replacements, sources have confirmed. California-based Corbis Global applied in the NSW Supreme Court to replace the Williams Buck pair due to differences about how the RCH liquidation should proceed. Corbis, which in November 2015 won judgment against RCH for unpaid fees…
William Buck’s Rob Whitton and Brendan Copeland have temporarily fended off an effort to have them removed as liquidators of Ridley Capital Holdings (RCH), a company controlled by architectural entrepreneur Joshua Ridley, after a judge ordered that their foreign nemesis must first stump up $45,000 as security for costs. In a judgment handed down this week Supreme Court Acting Justice Reg Barrett decided that the Californian-domiciled plaintiff,…
It’s not often that a liquidator writes to a judge requesting that the judge discontinue proceedings in which the liquidator is in control of the plaintiff. It’s probably even rarer for the judge to publish the letter. But it’s happened, courtesy of a judgment from acting Supreme Court Justice Reg Barrett and an unfortunate epistolary impulse indulged by liquidator Andrew Wily. Typically the circumstances giving…
One wonders what the Hruz’s of Albury think of the latest initiative to stamp out unscrupulous insolvency advisers. Josef and Yulia Hruz are the directors and owners of John Doe Pty Ltd, an inactive-seeming entity that’s not filed a form since 2007 according to company records. John Doe Pty Ltd also happens to be the name the Australian Securities and Investments Commission (ASIC) used as an example in a letter it…
It’s no surprise that terms such as: “beggared belief” appear amongst the findings of the executioner of auditors and liquidators, which has published its reasons for cancelling the registration of Randall Clinton Joubert more than two months after imposing sentence. A sole practitioner based in Elizabeth Street, Sydney, Joubert was hauled before the Companies Auditors and Liquidators Disciplinary Board (CALDB) in July 2015. The hearing…
Kemp Strang’s Peter Harrison has delivered a compelling summary of the risks attending to claims for unfair preference payments in the context of the May 13 judgment of Federal Court Judge Jim Edelman In the matter of FPJ Group Pty Ltd in Liquidation. The humbling affair involved Hall Chadwick’s David Ross – as liquidator of FPJ Group Pty Ltd – going after FPJ’s supplier, CSR Building Products. Ross…