PKFs’ Trent Hancock. Trent Hancock will have to divulge details of a litigation funding agreement after a Federal Court judge ruled that Shadd Danesi was entitled to see aspects of the agreement in respect of proceedings Hancock has commenced to recover $6.4 million from the bar baron. Hancock – in his capacity as liquidator of South Townsville Developments – is trying to recover the funds…
Chan & Naylor’s John Kukulovski. Liquidator John Kukulovski is resisting an application for an order that his fees and expenses be reviewed after a court terminated the Deed of Company Arrangement (DoCA) he was appointed to administer and ordered that any winding up of Mt Hira Investments Pty Ltd be stayed. Kukulovski was appointed voluntary administrator (VA) of Mt Hira on October 3 2018 and…
Veritas Advisory principal David Iannuzzi. The Federal Court has dismissed an application for leave to appeal orders for a judicial inquiry into the conduct of Sydney liquidator David Iannuzzi. Last week three judges of the Federal Court of Appeal ruled that none of the submissions made by Iannuzzi’s legal representatives had persuaded them that in ordering an inquiry into Iannuzzi’s conduct last year, Federal Court…
EY’s Marcus Ayres. Here’s a pretty tale of uncertain indemnities, receiver’s fees, heritage property and Hong Kong hedge funds. iNO first got wind of this insolvency-afflcted imbroglio when we came across court action commenced by Gennaro Autore. The commercial property investor and high end retailer has had problems bringing to fruition his ambitions for Sydney’s prestigious Trust Building on King Street. Torenaro Pty Ltd and…
EY’s Marcus Ayres. As many as four receivers may have found themselves in the sights of Gennaro Autore following the commercial property investor’s emergence from a mezzanine structured loan arrangement with Tasmanian millionaire Greg Woolley. Although details are currently elusive, INO can report that lawyers for Autore’s Graaf Pty Ltd appeared before Justice Ashley Black in the NSW Supreme Court on Monday this week seeking…
Hall Chadwick’s Steve Gladman. Steve Gladman’s decision to use his casting vote to defeat a resolution to replace him has been challenged in the courts. On Monday the NSW Supreme Court heard that at the second meeting of creditors of Glenfyne Farms International AU Pty Ltd (GFIAU), voting on a resolution to replace Gladman with SV Partners’ Jason Porter and Fabian Micheletto was deadlocked after a poll….
Now that a bid for permanent stay has been dismissed and the appointment of a suitable expert to determine the date of insolvency or otherwise is imminent, INO thought it appropriate to revisit the Starcom saga. Readers may recall that we first delved into this ageing administration in June this year in Lost Records An Obstacle For Pitchers’ Partner. That was when Starcom’s chief executive officer (CEO) Jega Muttucumaru…
Balance Insolvency’s Tim Cook spent a couple of hours in the witness box in the NSW Supreme Court yesterday, contributing as best as he could to the proceedings currently underway in the matter of Fearndale Holdings. Cook is Fearndale’s most recent external administrator, having been appointed as voluntary administrator (VA) back on May 3 of this year. We missed the bulk of his testimony but did…
A spat over control of Fearndale Holdings‘ shale quarry has flushed out a real crowd from the world of insolvency and the sometimes connected world of individuals who’ve captured the attention of the ATO. Back in May 2018 Balance Insolvency’s Tim Cook was appointed voluntary administrator of Fearndale Holdings which has some claim to the quarry at Luddenham in Sydney’s west. This week the Supreme Court heard…
You know views on a course of action have become estranged when one set of insolvency practitioners asks a court to inquire into the conduct and remuneration of another set of insolvency practitioners. That however is what has happened to Pitcher Partners Andrew Yeo and Gess Rambaldi, who for almost two years have been engaged in an attritional struggle with Mark Korda, a struggle which…