PwC partner Derrick Vickers.A Queensland company director who thought he could juggle a construction business and a bloodstock agency no doubt thought ousting an unwanted liquidator would be a doddle. Yeah nah.In the Federal Court this week Justice Roger Derrington ruled that while the director’s legal team had identified potential for conflict it was insufficient to justify the appointee’s removal.“The point sought to be advanced…
Hall Chadwick partner Kathleen Vouris. It must surely delight a member of the judiciary when on the first day of a hearing it’s discovered that two affidavits upon which the defence hopes to rely are so beset with irregularity as to render them inadmissible.On Tuesday NSW Supreme Court judge Scott Nixon SC turned up wigged and robed and ready to hear arguments in respect of…
Hall Chadwick partner Kathleen Vouris. Hall Chadwick’s Richard Albarran. We wonder if Richard Albarran and Kathleen Vouris barked urgent orders yesterday morning, demanding staff locate a tradesperson to immediately remove a fence that the two Hall Chadwick partners had only recently caused to be erected?Air Tasker? Hire a Hubby? Just get it done, they might have hollered. And they’d have been be right to.If the…
Steve Kugel of The Insolvency Experts.Liquidator and Trustee Anthony Warner.How optimistic iNO was when we published “Bitter Partnership Dispute Edges Closer to End Game” under the assumption that resolution was nigh. Now, with the benefit of six years of hindsight, iNO would no longer bet that this week’s decision of the NSW Supreme Court of Appeal represents the last hurrah for liquidator and trustee Anthony…
Auxilium Partners’ Bob Jacobs.Hall Chadwick’s Richard Albarran. Over in West Australia a stoush between rival receivers has led to the issuance of an interesting judgment in respect of the extinguishment or not of security via a DoCA.“It is not correct to describe the possibility of a variation to that Loan Agreement made at a later time as a contingent claim existing at an earlier time.”…
Louttit & Associates’ Jamieson LouttitA Sydney insolvency practitioner has been ousted as liquidator of Coal Contractors Pty Limited after the Federal Court decided creditors would benefit from a fresh set of eyes, particular eyes that charged less than the other sets of eyes vying for the gig.The replacement application was brought last month by Starbelle Energy Pty Ltd (Starbelle).“Starbelle submits, and I accept, that it…
FTI Consulting’s John Park.FTI Consulting’s Ben Campbell.With binding purchase offers now in and the deadline for making a recommendation to creditors shortly to fall due, the administrators of the four companies that own half of the Callide power station in Queensland have plenty on their plate but as a recent court hearing has shown, when government is involved nothing can be assumed.“CEPL considers it will…
FTI Consulting’s Daniel Woodhouse.Choosing to suspend activities undertaken by a specialist contractor can create risks of the personal liability kind for administrators, as three FTI Consulting operatives discovered shortly after being appointed to Savannah Nickel Mines Pty Ltd (Savannah) in December last year.“The plaintiffs do not dispute that the amounts claimed in respect of suspension costs by the defendant, including the rise and fall component,…
Struck off ex liquidator David Iannuzzi.Evading an order for indemnity costs aside, iNO can’t help wondering if the Commissioner of Taxation (CoT) regrets entering into consent orders with struck off liquidator David Iannuzzi way back in 2019.Sure the CoT avoided the need to go through with the court-ordered inquiry it initially sought into Iannuzzi’s conduct as a registered liquidator, but given what’s transpired since maybe…
Chifley Advisory’s Gavin Moss.dVT Group partner Henry Kwok.Resource shortfalls can produce plenty of pain for small insolvency practice operators, as evidenced by the difficulties encountered recently by Chifley Advisory principal Gavin Moss.“Mr Moss believes Mr Kwok has access to additional resources in his new firm, especially forensic accountants in dVT Group’s forensic division, to assist with the litigation and investigation regarding voidable transactions which will…