Receivers

Worrells ‘Workbench’ evaded KPMG scrutiny

Worrells Chris Cook. You might think a sizeable share of $20 million, generated by receivers winding down a poisoned partnership, would be enough to satisfy the most exacting beneficiary. No. In the following case, Worrells Chris Cook and Raj Khatri not only had to respond to repeated inquiries from one of the members of the tainted alliance but had to neuter criticisms from a rival…

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Court refuses liquidators standing to bury Ponzi

Deloitte partner Matthew Donnelly. Deloitte partner Sean Holmes. Getting court approval for remuneration and guidance on how to distribute trust monies to unit holders is one thing. Getting the court to approve your application for orders winding up an unregistered managed investment scheme is something else again, as two Deloitte insolvency and restructuring partners recently discovered. “In my view, the plaintiffs do not have standing…