KPMG’s Glenn Livingstone. Kroll Restructuring’s Steve Parbery. Any liquidator needing to know how to maintain and extend the life of a writ whilst he or she spends precious months fruitlessly searching for a sympathetic litigation funder could do worse than taking a peep at Jabiru Satellite Ltd v Societe Generale [2021] VSC 544 (2 September 2021). Whilst the search for a litigation funder in this…
Threats of special purpose scrutiny might shortly be lifted from the shoulders of Jirsch Sutherland partners Bradd Morelli and Trent Devine after one of the players in the hotly disputed FW Projects Pty Ltd liquidation blinked. Manassen Holdings, the investment arm of wealthy food importer Roy Manassen and wife Cynthia last month wrote to lawyers representing the IGA-affiliated Karellas family. In that correspondence, details of…
Rodgers Reidy director Geoff Reidy. Geoff Reidy must’ve near drowned earlier this month, engulfed by a wave of satisfaction after winning an order for indemnity costs against a disgruntled director who’d sought to portray the Rodgers Reidy principal in terms not entirely favourable. The smear attempt failed of course, crashing impotently against the seawall of logic personified by NSW Supreme Court chief justice in equity…
FMIF receiver David Whyte. FTI Consulting’s John Park. Ex-BDO partner David Whyte might have departed the profession for a life after insolvency but retirement doesn’t mean the abandonment of entitlement to fees incurred, as can be seen from Bruce & Anor v LM Investment Management Limited & Ors [2021] QSC 203. In this long running saga Whyte as receiver of LM First Mortgage Investment Fund…
Suspended trustee Peter Macks. You would think the transfer of a bankrupt estate from one trustee to two others would be straightforward. It’s not like there’s no precedent upon which practitioners and their lawyers can rely. Straightforward however is not a word that could be applied to the brouhaha that’s engulfed Worrells’ Daniel Cvitanovic and Steve Hundy, inheritors of an estate formerly in the hands…
Jirsch Sutherland partners Bradd Morelli and Trent Devine are for the second time in two years facing the possibility of being sidelined by a special purpose liquidator (SPL) in respect of the liquidation of developer FW Projects Pty Ltd. The first time creditors took aim at the Jirsch pair, who were appointed general purpose liquidators (GPLs) of FW Projects back in April 2019, an application…
Aston Chace’s Vincent Pirina. Aston Chace co-founder Steve Naidenov. Sometimes it doesn’t matter how well an insolvency practitioner does his or her job. If a creditor wants them out, they’ll find something in an appointee’s conduct to utilise as a basis to attack. Like a settlement that appears generous. In the case of Aston Chace partners Vincent Pirina and Steve Naidenov, the deed administrators of…
KPMG’s Will Colwell. KPMG’s Tim Michael. When a secured creditor funding deed administrators gets told that the $250,000 it handed over to fund a section 444GA application is insufficient because the deed administrators’ costs have absorbed it, well, you can imagine that the relationship might become a little strained. Certainly it could be expected that an at least temporary chill descended in respect of exchanges…
Towards the end of the hearing of a liquidator removal application yesterday, the presiding judge mused that whilst he was unlikely to find that GS Andrews Advisory principal Greg Andrews has demonstrated bias as liquidator of Candlebrush Investments Pty Ltd (Candlebrush), he might remove him anyway. The judicial contemplations were uttered by NSW Supreme Court judge Ashley Black after his honour had spent much of…
Hall Chadwick’s John Vouris. There may be quite a stoush germinating between Atlas CTL Pty Ltd‘s receivers Matt Byrnes and Andrew Hewitt and the company’s lien-wielding liquidators Richard Albarran, John Vouris and Richard Lawrence over entitlement to assets which formed part of the auto leasing outfit. “After a year of blistering inactivity and at the urging we understand of Volkswagons’ lawyers, they have suddenly indicated…