ORDERS freezing the assets of the former director of Insolvency Guardian Melbourne have been dismissed. In the Federal Court last week Justice James Edelman ordered that the proceedings brought against Phil Carlei by Insolvency Guardian principal Jarrod Siorecki be dismissed by consent. There were no orders as to costs. Neither Carlei or Siorecki responded to requests for comment. The orders bring to an end an action…
Cor Cordis partners Ozem Kassem and Daniel Jurotawitch must continue winding up two companies controlled by Sarkis Nassif after a judge rejected the millionaire developer’s application to terminate the liquidations. Citing a lack of evidence and concerns that the companies may have exhibited “a lack of commercial morality,” Justice Stephen Robb had invited the applicants to bring fresh evidence but the deadline for that passed…
WITH judgement pending on Justice Antony Siopi’s inquiry into the handling of the Burrup Fertilisers receivership, extraordinary allegations made about partners and staff of PPB at the eleventh hour by Martin Goldblatt can now be aired, alongside PPB’s rebuttals. One of the main planks of plaintiff Pankaj Oswal’s pursuit of breach of duty findings against Ian Carson, David McEvoy and Simon Theobald rests on the…
MAX Prentice’s grip on the bankrupt estate of Robert Gilbert Coshott may have loosened a tad this week after Federal Court judge Jayne Jagot on Tuesday overturned the decision of her Circuit Court counterpart Rolf Driver on appeal from the bankrupt’s brother. In May Judge Driver ruled on an application by Ronald Michael Coshott and Fewin Pty Ltd seeking confirmation of their status as creditors in…
OCTAVIAR’s general purpose liquidators Kate Barnett and Bill Fletcher were served a major setback in the NSW Supreme Court yesterday. In handing down his judgement, Justice Paul Brereton ruled that RSM’s David Kerr – currently special purpose liquidator of Octaviar Limited (OL) – can apply to extend his powers, paving the way for an appeal of Barnett and Fletcher’s rejection in April 2014 of a…
THE latest accounts for Octaviar Administration (OA) show that Bill Fletcher and Kate Barnett earned almost $370,000.00 in fees in the past six months, taking total remuneration since they were appointed to $23.125 million. The Bentleys’ pair were installed as liquidators of OA and Octaviar Limited (OL) in September 2009 after the Public Trustee of Queensland, acting on behalf of creditors, removed Deloitte’s John Greig and…
THE sparring between litigation funder Bookarelli and its former agent Katanga Developments appears to be drawing to a climax as the two countdown to October 7, when an application by Katanga to wind up Bookarelli is due to be heard in the NSW Supreme Court. But will it get there? On September 17 NSW District Court Judge James Curtis set aside the judgement upon which…
IT’S ironic that litigation funder Bookarelli Pty Ltd is facing potential liquidation, given how profitable its proof-of-debt facilitation sideline appears to have been for the $1 company linked to sometime fraud investigator and Blue Mountains resident Richard Kurland. According to a September 2013 District Court judgement, between 28 June 2011 to 28 March 2012, almost $800,000 was paid into a solicitors’ trust account linked to…
HAVING recently secured a $12.35 million settlement from Fortress Credit Corporation, Octaviar Limited’s (OL) special purpose liquidator is, we are reliably informed, contemplating resurrecting a $515 million proof of debt claim against the liquidators of Octaviar Administration (OA). The NSW Supreme Court made orders on May 26, 2015, discontinuing proceedings first brought by OL’s receivers against Bentleys partners Kate Barnett and Bill Fletcher in 2014….
READ in their entirety, expert witness reports can be turgid affairs. Eye-glazing repetition. Incessant referencing of Acts and Codes. Footnotes even. But when a report’s author is cross-examined in open court and the minutiae of their conclusions surveyed, a more engaging narrative emerges. Barry Raymond Cooke is one such expert. Cooke was engaged by Pankaj Oswal to produce expert witness reports about PPB Advisory’s handling…