Grant Thornton duo Mike McCann and Said Jahani have had an entertaining time since being appointed voluntary administrators (VAs) of the CRCG-Rimfire Ptd Ltd joint venture late in 2017 and there’s no sign of the fun ending just yet. Most recently a major contingent creditor dissatisfied with the treatment of its proofs of debt (PoD) has commenced proceedings in the Federal Court, thereby halting the progress McCann…
A recent application for directions in the Supreme Court of West Australia has revealed that for 12 months some of KordaMentha’s most experienced practitioners have been hamstrung by the threat of an indemnity-crippling damages claim after terminating a contract to sell the assets of Mirabella Nickel (MBN) to one party and then offloading those same assets to another. The jilted buyer was Mining Standards International Pty Ltd (MSI),…
Liquidator Anthony Warner could potentially face a hefty payout to former colleague and partner Steve Kugel following a judgment handed down this week by NSW Supreme Court Justice Guy Parker. In the 30,000 plus word judgment of Shazbot Pty Ltd v Warner Capital Pty Ltd [2018] NSWSC 1645 Justice Parker has painted an at times less than flattering picture of Warner in respect of the machinations he…
A court has ruled that an application by a Sydney liquidator to appeal orders for an inquiry into his conduct will be heard next year. On Friday last week the Federal Court ordered that the application of David Iannuzzi for both an extension of time and leave to appeal be heard and determined by a Full Court immediately prior to, or concurrently with, any appeal…
The dispute around control of Rushcutters Bay eatery Bar M – formerly known as Bar Machiavelli Pty Ltd – has Hurst Recovery’s David Hurst in court urgently seeking to unwind transactions that could ultimately see him liable to pay a costs order for at least $60k and other as yet unallocated costs. At the same time, those who referred him the job – restaurateur Paola Toppi and…
David Solomon and Riad Tayeh may be preparing to pay a $2 million dividend to a priority creditor of 1st Fleet Pty Ltd (in liquidation) but that hasn’t stopped that same creditor belting the dVT partners with litigation that had its first airing in the courts this week. No details were ventilated when the matter came on for first directions on Wednesday but Minutes of the…
Final submissions in the long running dispute between shareholders of Carzapp commenced yesterday and among the questions NSW Supreme Court judge Francoise Kunc will need to rule on is whether the August 3, 2017 appointment of dVT’s Dave Solomons and Antony Resnick as administrators of various entities within the Carzapp group was for an improper purpose. Carzapp’s director shareholders have been at loggerheads since last year when…
The Commonwealth’s FEG Recovery Unit has won an important skirmish in its dispute with One Corporate Trust Services (OCTS), the appointors of McGrathNicol as receivers of Australian Road Express Pty Ltd (ARX) and Jolly’s Transport Services Pty Ltd. On Monday, the Federal Court published the September 17, 2018 decision of Justice Mark Moshinsky dismissing OCTS’ application to have FEG’s cross-claim in this complex game of PPSR fanagling struck out. The…
When you’re conducting what might be the largest and most complex public examination ever run by Australian liquidators, maintaining the process without inadvertently creating additional complexity can be challenging, as Pitcher Partners’ Andrew Yeo and Gess Rambaldi have discovered after being dragged into a potential defamation action between one of the examinees and Fairfax Media’s The Age newspaper. On August 28 Tim Batchelor, a locksmith…
It didn’t take long for ARITA to dismiss the complaints made about member and KordaMentha partner Rahul Goyal. As we reported last week in Tiaro Coal Creditors Gunning For Goyal various individuals connected to Tiaro Coal’s major creditor the Hudson Investment Group complained to ARITA about Goyal’s conduct on the administration. They alleged he was in cahoots with a major creditor with which KordaMentha has a referral relationship…