Steven Golledge SC. The Commissioner of Taxation’s (CoT) ears would’ve been aflame last week as Steven Golledge SC excoriated the highest tax officer in the land for repeatedly failing to preserve claims to millions lost to illegal phoenixing. As iNO reported in Banq Jurisdiction Case Could Limit Late Start Litigation, ex-clients of the controversial Banq Accountants & Advisers are seeking to overturn the basis on…
Ex-liquidator David Iannuzzi. Commencing proceedings years after the deadline for such actions has expired is in for a test as the long running battle between the Commissioner of Taxation (CoT) and clients and interests associated with the notorious Banq Accountants & Advisors group flares again. The latest outbreak involves an appeal in the Federal Court by various beneficiaries of the Banq tax evasion scheme against…
Olvera Advisors’ Damien Hodgkinson. BDO’s Andrew Sallway. Whilst some face the possibility that the ATO might renege on an undertaking and pursue monies it previously deemed vests with a liquidator, others are instead vexed by competing claims from creditors and the appointees they replaced. For Hogan Sprowles co-founder Christian Sprowles, that has meant he’s had to delay distributing some part of an approximately $285,000 cash…
Hall Chadwick’s Richard Lawrence. KordaMentha’s Richard Tucker. It might be thought wise to never let someone who’s after your job address those who’ve assembled to decide your fate, but Richard Lawrence risked it yesterday when he temporarily vacated the chairman’s seat at the first meeting of creditors of Balmaine Gold Pty Ltd. The partner from the Hall Chadwick Melbourne practice made the decision some two…
Hall Chadwick’s Richard Albarran. Fresh from being turfed out of an appointment as voluntary administrator (VA) of a company in control of gold mine in Queensland, Richard Albarran is now facing resistance from another gold miner disinclined to let the Hall Chadwick Sydney partner anywhere near its nuggets. To this end, Golden Point Pty Ltd (Golden Point) yesterday sought an urgent injunction in the Federal…
KordaMentha’s Richard Tucker. Worrells’ Christopher Darin. No matter what misgivings liquidators of a company might have about the conduct of separate liquidators appointed to a related entity, they must always resist the temptation to apply to wind up that related entity if it’s subject to a deed of company arrangement (DoCA). That’s the message Supreme Court of West Australia Master Craig Sanderson delivered last week…
Hall Chadwick’s Richard Albarran. I&R advisory partner David Ingram. A certain liquidator might be indulging a few spoonfuls of the guilty relish Germans call schadenfreude, if as iNO imagines, he has learned that the liquidator pursuing our delighter in the discomfort of others is in turn being sued by his former practice partners. To understand this tale however we must go back to 2020, approximately…
Hall Chadwick partner Blair Pleash. Hall Chadwick’s Richard Albarran. Some of Hall Chadwick’s finest have encountered potholes recently in their regular transit through insolvency’s rougher reaches. iNO’s readers may recall our reports of two separate appointments from which Hall Chadwick partners were separated from the fee teat by court orders, wielded machete-like by judges unconvinced by evidence served up to justify the administrators’ installation. In…
PKF’s Brad Tonks. PKF partner Mark Roufeil. Marital enmity and alleged share register shenanigans have led to the appointment of PKF’s Mark Roufeil and Brad Tonks as provisional liquidators (ProvLiqs) to companies linked to the alleged buyer of a Sydney Harbour-front reportedly valued at $95 million. The PKF pair were appointed by the courts in late December to various companies linked to businessman “John” Changjin…
Robson Cotter principal Roland Robson. A Queensland trustee in bankruptcy who landed a large and complex estate in early 2021 is now fighting to retain the appointment after one unsecured creditor lost patience and commenced proceedings in the Federal Court of Australia seeking orders that the trustee be removed. Whether the creditor’s impatience is justified however is something the court will have to decide. The…