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Receivership

ATO, Corporates, Directors, Lawyers, Liquidations, Liquidators, Litigation, ProvLiqs, Receivers, Receivership 21 March 2025

11th hour bid by ex-Virtical director to unwind ProvLiqs

BRI Ferrier’s Andrew Cummins.Ex-Virtical Pty Ltd director Mark Toma will attempt to set aside court orders appointing receivers and provisional liquidators to entities linked to the besieged hospitality venture, which is being investigated by the ATO in regard to claims for more than $100 million in alleged improperly claimed GST refunds.At 2:15pm today lawyers for Toma, who stepped down as a director of Virtical in…

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Fees, Judgment, Liquidations, Liquidators, Receivers, Receivership, Regulation/Legislation, Trustees 16 June 2023

The conspicuous ubiquity of an abundance of caution

Balance Insolvency principal Tim Cook. An abundance of caution. If ever there was a phrase that gets an airing in most if not all court applications it would be this, at least when those applications involve an insolvency practitioner seeking fee approval for work performed as both liquidator of a corporate trustee and receiver of the associated trust assets. The reason for the phrase’s frequency…