The stream of fees that’s flowed from the Tiaro Coal liquidation these last few years could get could a little bloodied after some of the company’s major creditors opened a new front in their war with liquidator Rahul Goyal. The gregarious Goyal – one of KordaMentha’s top revenue generators – has been at odds with major Tiaro creditor the Hudson Investment Group pretty much from the commencement of his…
After all the defiance and all the warnings McGrathNicol and the FEG Recovery Unit have turned demure as mice and settled their differences in a confidential arrangement that allows for no comment. Such was the outcome this week in the Federal Court when Justice Brigitte Markovic made orders by consent in Commonwealth of Australia represented by the Department of Employment V Peter McKenzie Anderson & Ors….
It’s not exactly Linc Energy but asset contamination can still poison the insolvency process even when it occurs on a vastly smaller scale – just ask Glenn Crisp and Malcolm Howell. The Jirsch Sutherland pair are liquidators of Bonnie View Petroleum Pty Ltd, which in 2010 arranged to sell its 19 petrol stations to larger rival, United Petroleum Pty Ltd. Of the 19 servos Bonnie View…
PKF Victoria’s Jason Stone and Glenn Franklin are playing hardball with AG Coombs Pty Ltd after the national mechanical services designer and installer failed to respond in time to statutory demands the PKF pair issued as liquidators of sub-contractor M & V Consultants Pty Ltd. Petrified at what that could mean for a business with 650 employees and annual turnover of $250 million AG Coombs sought an…
Low grade legal advice appears to be why Ozem Kassem and Jason Tang have been ordered to pay the costs of a party with whom they entered into a deed of settlement over a $60,000 vendor finance loan that’s been the focus of an ongoing dispute. In Mahmoud El Ali v JGYM Pty Ltd [2018] NSWSC 1298 (23 August 2018) NSW Supreme Court judge Michael Pembroke this week described…
It was just before the May 21, 2018 annual meeting of creditors of failed builder SX Projects that incumbent liquidator Geoff Reidy was approached by several individuals wanting a quiet word. Intrigued, Reidy agreed to the impromptu chat with the men, who one of INO’s sources described as being of South Pacific islander appearance. Once away from prying ears and eyes however, it became clear that they weren’t…
BDO partner James White is packing up and heading back to the UK, though our sources assure us a new baby is the reason White wants to be closer to home and his departure from these fair antipodean shores has nothing to do with the Mossgreen fiasco. We’ve yet to hear back from the man himself but yesterday BDO colleague and joint Mossgreen liquidator Andrew…
Insolvency practitioners (IPs) have long known that to make it as a corporate resurrectionist you need a hide like rhinocerous whose mother was an elephant from a family of pachyderms predisposed to exceptionally robust skin thicknesses. An impressive epidermis however wouldn’t be the only reason Ferrier Hodgson’s new star recruit Steve Parbery hasn’t joined his FTI Consulting counterparts in suing one Clive Frederick Palmer for defamation. Parbery…
dVT’s Dave Solomons and Antony Resnick have found themselves in the middle of a shareholder oppression suit which threatens to dislodge them as administrators of three entities from the CarZapp Group. The shareholders – plaintiff Domenic Ruberto and defendants Graham Meyerowitz and Mark Lasarow – fell out over a deal to sell the CarZapp auto-dealer phone app to Pickles Auctions Pty Ltd. As an aside, CarZapp’s…
dVT Group’s Seulen McCallum and Riad Tayeh will likely soon receive communications from Giles Woodgate after the NSW Supreme Court of Justice Fabian Gleeson last week approved Woodgate’s appointment as special purpose liquidator (SPL) of Hemisphere Technologies Pty Ltd (HT). McCallum and Tayeh were appointed liquidators of Hemisphere – which changed its name to ACN 152 546 453 Pty Ltd on December 23, 2016 – in January 2017. Their…