Aston Chace Group partner Ian Niccol. Levi Consulting’s David Levi. Using your casting vote to overcome opposition to the payment of your predecessor’s fees ought to earn a liquidator something, right? In the case of Ian Niccol, that something might be a placatory word from his predecessor in the ear of a certain director who’s given Niccol hell ever since he was appointed liquidator of…
Insolvency Experts’ principal Steve Kugel. CRS Warner principal Anthony Warner It started in 2015 and maybe it’ll conclude this year. But given the potential for disagreement generated over almost 10 years of litigation, who the hell knows. Since November 2018 when the principle issues were thought to be resolved in the plaintiff’s favour in Shazbot Pty Ltd v Warner Capital Pty Ltd [2018] NSWSC 1645…
This may be the cautionary tale to top them all. Levi Consulting’s David Levi. A registered liquidator, making submissions in respect of costs, has – unwittingly we presume – required a judge of the NSW Supreme Court to consider making adverse findings against him. The mother of all own goals, scored on the eve of the new year, though we won’t know till after 4:00pm…
Aston Chace’s Ian Niccol. Hall Chadwick’s Richard Albarran. When directors don’t get their preferred external administrator, the unwanted incumbent can anticipate consequences. When that company has a toe on a supposedly rich gold deposit then the unwanted appointee can expect those consequences to manifest swiftly, as Sydney insolvency practitioner Ian Niccol recently discovered. The Aston Chase principal was installed by the courts as liquidator of…
Worrells Chris Cook. You might think a sizeable share of $20 million, generated by receivers winding down a poisoned partnership, would be enough to satisfy the most exacting beneficiary. No. In the following case, Worrells Chris Cook and Raj Khatri not only had to respond to repeated inquiries from one of the members of the tainted alliance but had to neuter criticisms from a rival…
DV Recovery Management’s Daniel O’Brien. A shareholder dispute has spilled into the NSW Supreme Court with one of the warring factions seeking to oust voluntary administrators (VAs) of their company on the basis that a supposedly suspect Notice of Meeting meant the resolution passed to appoint VAs was invalid. In the court on Monday counsel for estate agent and creditor William Tianguang Bai of Bai…
PKF’s Brad Tonks. There must have been much gleeful rubbing of hands yesterday after the NSW Supreme Court of Appeal exorcised the FEG demon in respect of whether a priority creditor’s claim to circulating assets ranks ahead of a liquidator’s claim for remuneration. “The central question before the primary judge and on appeal was whether s 561 of the Act applies and, if so, whether…
Cor Cordis partner Jeremy Nipps. Cor Cordis partner Barry Wight. The old adage about biting off more than you can chew and chewing like hell came to mind this week as iNO digested the judgment of Justice Catherine Button in Nipps, in the matter of i-Prosperity Pty Ltd (in liq) [2023] FCA 1446. Her honour was ruling on an application brought by Cor Cordis partners…
Wexted Advisors founder and principal Joe Hayes. Wexted Advisors partner Andrew McCabe. Wexted Advisors founder Joe Hayes may be facing an almighty stoush with the Queensland State Revenue Commissioner (Commissioner) over an unpopular DoCA, but that doesn’t mean he and colleague Andrew McCabe should be prohibited from utilising the deed funds for their defence. ” … the allegations made in the Queensland Proceeding in respect of…
David Levi. If you’re appointed administrator of a company subject to a creditor’s statutory demand and indicate a preparedness to have adjourned the winding up application on foot, it makes sense to turn up with your boxes ticked. Last Friday a court dealt with a practitioner who didn’t. “At the risk of stating the blindingly obvious if I assume I’m gong to win the lottery…