BCR Advisory’s John Morgan.The undeniable success of FEG Recoveries in clawing back funds for the Commonwealth has certainly emboldened its decision makers, housed within the Federal Government’s Department of Employment and Workplace Relations (DEWR).It would therefore be a brave insolvency practitioner who’d bet that the recent setback to FEG’s ambitions as meted out by the High Court of Australia will knock them off balance for…
Jones Partners principal Bruce Gleeson. Jones Partners Daniel Soire.Creditors of controversial and assetless ex-formworker Dalma Form Specialist Pty Ltd (DFS) breathe easy, unless you’re a related party creditor who opposed the application to terminate the DFS DoCA, the creditor who made the application or the creditor who supported it. One way or another you lot just got stung.Such was the outcome when the parties in…
Bradd Morelli. Image: Linked In.Jirsch Sutherland duo Bradd Morelli and Trent Devine have added another page to the colourful catalogue of litigation chronicling their time as liquidators and receivers of FW Projects Pty Limited after the Federal Court last month ordered them to relinquish sums from a fund of $600,000 in “retention monies”.The court’s decision in Morelli (liquidator), in the matter of FW Projects Pty…
McGrathNicol’s Anthony Connelly.McGrathNicol’s Jamie Harris.You know you’re on a winner when the self-described “restructuring specialist” you’ve fingered as a phoenix scheme architect offers to give back the dough.You also know – because you’re an experienced insolvency practitioner who’s been around the block – that nothing is ever simple, and as is shown in the case of TSK QLD Pty Ltd (TSK), such offers are invariably…
Domenic Calabretta. Image: Mackay Goodwin.Despite a setback earlier this week, Mackay Goodwin principal Dominic Calabretta is reportedly heading back to court today to continue the pursuit of a costs order won by a former client of his appointor, lawyer Farshad Amirbeaggi of Yates Beaggi Lawyers (YBL).“Counsel were unable to locate, and I have also been unable to find, any case in which the appointment of a receiver had…
Olvera Advisors’ Michael Billingsley.A purportedly “strong case” hasn’t cut any ice for a Sydney liquidator seeking to avoid having to stump up $1.5 million in security for costs.As is revealed in Ceni Enterprises Pty Ltd (in liq) v Sykes, in the matter of Ceni Enterprises Pty Ltd (in liq) [2024] FCA 842 Federal Court judge Brigitte Markovic rejected the key argument of Olvera Advisors’ Michael…
Domenic Calabretta. Image: Mackay Goodwin.Mackay Goodwin principal Domenic Calabretta was able to partially assuage concerns about validity during a interlocutory hearing on Monday by producing documents in relation to his appointment as receiver of Harris Health Care Pty Ltd (HHC) but as the presiding judge observed, doubt remains. The question of standing emerged early in the hearing Calabretta’s amended interlocutory application, which he brought in…
Hall Chadwick’s Richard Albarran. Later this year the Federal Court will be asked to determine whether the Hall Chadwick quartette of Brent Kijurina, Cameron Shaw, Aaron Dominish and Richard Albarran should be replaced as liquidators of Probis Financial Services Pty Ltd (Probis) on the basis of bias.The application was commenced in February by Probis’s largest creditor, Harneys Trusts (Cayman) Limited (Harneys) as trustee for the…
Ex-liquidator David Iannuzzi.You’d think that by agreeing to relinquish your liquidator’s registration for a decade, you might buy yourself a little peace. Well not if you’re former Veritas Advisory principal and struck off ex-liquidator David Iannuzzi.The self-styled CFO and “loyal advisor”, who isn’t averse to posting the odd-stinging commentary about his former peers on social media is a defendant in multiple sets of proceedings commenced…
Domenic Martino: photo courtesy Townsville Bulletin.Cop a creditors statutory demand, make sure you apply to have it set aside within the 21 day period specified by the Act. That is the stark reality for demand recipients with a NSW Supreme Court judge yesterday finding that applying to set aside a demand beyond the deadline was not something the court had jurisdiction to indulge, at least…