With the protagonists saying either not much or nothing at all, SiN will have to wait a little longer to reveal the entirety of the story as it relates to number 14 Prince Alfred Parade, Pittwater, former home of 1980s Chase AMP asset finance guru Mitchell Walter Mazoudier, a surname longtime AMP watchers would be familiar with given the demutualised insurer’s mammoth fall from grace took…
KordaMentha pair Rahul Goyal and David Winterbottom were present and accounted for in the NSW Supreme Court yesterday as the hearing of Jan Cameron’s bid to deprive the pair of a $2 million success fee entered its second and final day. The Kordas pair and Cameron fell out at some point after she appointed them receivers of DSG Holdings back in 2014. They’d picked up…
Jirsch Sutherland’s Glenn Crisp has earned a couple of mentions in recent judgments of the Supreme Court of Victoria and they’ve not been complimentary. In United Petroleum Pty Ltd v Bonnie View Petroleum Pty Ltd (In Liquidation) Justice Maree Kennedy identified Crisp as the only witness during the trial whose evidence raised “credit issues”. The judge was explaining how the hearing had proceeded, relying mainly on documentary evidence. Except…
The man doing all he can to eliminate complacency around circulating assets and the uses to which they can rightly be put was in Sydney this week, presenting to those most at risk of transgressing his rejuvenated enforcement regime. On Tuesday FEG recovery czar Henry Carr was at the boardroom of John Morgan’s BCR Advisory on Spring Street. It was lunchtime and Carr, who is spearheading the Department of…
Clive Palmer’s efforts to prevent John Park and his colleagues from FTI Consulting from paying themselves for their time as voluntary administrators (VAs) of Queensland Nickel have come to naught. On Wednesday the Supreme Court of Queensland made an order indemnifying the four FTI Consulting partners from any liability for any negligence, default, breach of trust or breach of duty relating to the payment by…
This case pitting Tasmanian businesswoman Jan Cameron against KordaMentha’s David Winterbottom and Rahul Goyal might hold some lessons for other insolvency practitioners taking appointments from unconventional creditors. One lesson might be that when promising one’s appointor to undertake a stock take, count the stock! The other might be that when contemplating an appointment from a secured creditor that’s not a bank or similar, additional due diligence pays….
THE Deputy Commissioner of Taxation’s (DCoT) crusade to install special purpose liquidators (SPLs) to a company it alleges is part of a multi-million dollar scam involving gold bullion and improperly claimed GST credits was fully ventilated yesterday when the protagonists slugged it out during a half day hearing in the Federal Court. ACN 154 520 199 Pty Ltd – formerly known as EBS Pty Ltd – is…
When one litigates for gain, it’s no surprise that the disputes that attend one’s professional and personal enterprises more readily end up in court. In the litigation funding game, the lawyers are on speed dial, if of course Siri hasn’t already been programmed to connect one’s litigator of choice on command. This perhaps explains why the two Patricks of litigation funding – each of which…
Adelaide insolvency practitioner Andre Strazdins has had the barest of wins in his ongoing battle to recover $724,000 in fees and expenses from the ANZ Bank incurred whilst voluntary administrator (VA) of Darwin nightclub operator, DNPW Pty Ltd. Last week Justice Martin Hinton of the Supreme Court of South Australia ordered that Strazdins deposit $270,000 with the court as security for costs ahead of an anticipated 15-day…
In what might prove to be valuable guidance for other insolvency practitioners who’ve fallen foul of the Department of Employment’s (DoE) FEG recovery unit, dVT Group’s Riad Tayeh and David Solomons are about to settle their dispute and SiN has it on good authority that a deal is imminent and could be confirmed as soon as next week. Proceedings were initiated against the pair on October 31,…