Public Examinations

ANZ appointees accused of trespass in SPL bid

Here’s an unholy shemozzle for the Federal Court to exorcise. Two banks, each with multi-million dollar exposures to separate companies within the same group. Four appointees, installed at some point as either receivers or liquidators of various companies within said group. Add the main shareholder and director, who’s defending one bank’s attempts to bankrupt him. Toss in ASIC. Season with allegations that receivers took possession…


Gebie Services liquidators repel challenge to examination summonses

Gebie Liquidators repel challenge on summonses

Down in South Australia, Heard Phillips principals Andrew Heard and Anthony Phillips recently fended off a challenge to summonses requiring a range of parties for examination including RSM director Matthew Gordge. The summonses were issued in early February as part of investigations into the affairs of Gebie Services, to which Heard and Phillips were appointed liquidators in June 2016 following an application to the Federal Court…


Argentice creditors relentless on Ridley

Argentine creditor prepares to uncork ILRA

Not content with a judge declining its application to replace Brendan Copeland and Robert Whitton as liquidators of Ridley Capital Holdings (RCH), Argentine architect and major creditor Corbis Global is preparing a fresh assault on the William Buck incumbency. SiN’s sources in Buenos Aires – not to be confused with our man in Cordoba – have recently delivered fresh missives, smuggled down under in a case of…


Ianuzzi attracts FEG fire over Mentmore

David Ianuzzi is not going to forget his first time as lead receiver anytime soon. In just a few hours in the witness box on Monday the Veritas Advisory principal was forced to admit his treatment of certain debts in the 2014 receivership of Mentmore Pty Ltd had been flawed, that his initial 524 report needed correcting and that the only reason he hadn’t already…


Mental illness and bankruptcy: are they such uncommon bedfellows?

Bankrupt’s mental illness excuse dismissed

As Australia’s population ages and the costs of modernity multiply, insolvency practitioners will find themselves dealing more frequently with clients unfit to exercise their responsibilities and obligations. This story is not about them. This story is about a bankrupt whose attempts to be exempted from a public examination on the grounds that it would exacerbate her mental illness have come to naught in the Federal…


Lindholm’s hot potato appointments

John Lindholm is not a name one associates with controversy. A few years short of Ferrier Hodgson’s compulsory retirement age, the Melbourne office’s straight-talking chief has a sound record. But circumstance thrusts contention upon unlikely bearers and Lindholm is currently dallying with unwelcome publicity thanks to his role as administrator of failed vocational education group Australian Careers Network (ACN) Group; his trading of Showgirls Bar…


’tis better to FEG, than to receiver

If any insolvency practitioner remains uncertain as to the intentions of the Department of Employment’s (DoE) Active Creditor Unit (ACU), contemplate the plight of dVT Group’s Riad Tayeh, whose role as receiver of Delnote Constructions has recently been the subject of public examinations in the NSW Supreme Court. Tayeh and dVT colleague David Solomons were appointed receivers of the commercial concreter in November 2014. The appointor was Hermes…