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…
Reconstruction guru Chris Campbell is being forced to revisit his past as a partner at Deloitte thanks to the bullish determination of creditor denied Garry Hopper (pictured), who on Monday returned for another crack via the Supreme Court of Appeal. The ex-MF Global Australia (MFGA) trader has been waging a legal battle against Campbell and his former Deloitte colleagues David Lombe and Vaughan Strawbridge since October…
The Federal Court has ruled that Vincents partner Peter Dinoris failed in his duties by not contacting the director who appointed him voluntary liquidator of her company, despite the director transferring $236,500 from the company’s bank account just days prior to his appointment. In a judgment handed down last week, Federal Court Judge John Reeves found that “Mr Dinoris contravened s 180(1) of the Corporations Act by failing…
“We’re talking”. That’s almost all the special purpose liquidator of Octaviar Limited (OL) would say yesterday when SiN phoned to enquire about that mammoth and as yet unresolved proof of debt (PoD) action RSM’s David Kerr holds against OL’s sister company Octaviar Administration (OA). OA is currently in the hands of general purpose liquidators Kate Barnett and Bill Fletcher from Bentleys Corporate Recovery. “We are working at resolving…
Jirsch Sutherland’s Sydney head has been ordered to pay up to $20,000 from his own pocket after a judge ruled he displayed a “degree of unreasonableness” while liquidator of a company connected to a dispute over building works on Sydney’s Northern Beaches. The unusual hip pocket penalty came courtesy of Supreme Court Justice Ashley Black, who found that Jirsch managing partner Sule Arnautovic should have given…
Less than 24 hours after being appointed liquidator to a printing business in the heart of Tony Abbott’s seat of Warringah, Jirsch Sutherland’s Amanda Young found herself with a problem. It was Saturday morning, June 18 when the power went down at the Roller Poster Company. Everything that required electricity at the company’s rented premises in Brookvale stopped. Including the roller door. But Young, who’d…
The Quayside Room atop the Museum of Contemporary Art was abuzz last night as various FTI Consulting bigwigs, staff and clients gathered to hear Australian restructuring chief John Park discuss the peculiarities associated with being liquidator of Queensland Nickel. Regrettably Park’s talk – largely the same as the one he gave at the ARITA National Conference last month – was delivered according to the infernal…
Jirsch Sutherland’s Glenn Crisp and Renee Di Carlo must be relieved. NSW Supreme Court Judge Ashley Black has approved their application to distribute a preferential payment to a funding creditor without uttering a single Breretonism about their pay. Quite the contrary in fact. As liquidator of Waterfront Investments Group, Crisp wanted to pay creditor Owners Strata Plan 80454 (OSP) a $50,750.98 preferential payment and made application…