Referrers

Familiar advisors likely to face further FEG grilling

One of the welcome consequences of the Federal Government’s December 2016 decision to expand FEG’s recovery activities has been an increased focus on insolvency industry advisors, particularly those whose success at pulling a client out of a hole is not commensurate with their success in pocketing fat fees, irrespective of outcomes. In MK Liquidator Floored By Phoenix Allegation INO revealed how colourful insolvency advisors Al Constantinidis and Socrates “Scott” Kitas…


Pitcher’s phoenix probe yields liquidators’ names

Pitcher Partners‘ mother-of-all public examinations kicked off this week and already two liquidators names have been mentioned in despatches as the marathon inquiry into an alleged $100 million phoenixing scheme gains momentum in room 8B of Melbourne’s Federal Court. Pitcher’s Andrew Yeo and Gess Rambaldi are being funded by the Australian Tax Office (ATO) to prise open what may be the largest phoenix syndicate yet uncovered and as part of…


Hall Chadwick hands Validus gig to ex-staffer

We would have thought that if something INO wrote forced a pair of registered liquidators to relinquish an appointment as voluntary administrators (VAs) then that would potentially be beneficial for creditors but according to Hall Chadwick’s Brent Kijurina not so. As INO reported last week in Hall Chadwick’s Validus DIRRI Heavy On Referrer Detail, Kijurina and colleague Richard Albarran recently lodged a lengthy Declaration of Independence, Relevant…


Hall Chadwick’s Validus link snapped by BRI

It’s with a sense of deja vu that INO embarks upon this tale, not least because there’s a link between many of the characters and those we featured in Hall Chadwick’s Validus DIRRI Heavy On Referrer Detail, published on Wednesday. Back on May 11, 2018 one of the directors of ASX-listed Capital Mining Limited called Hall Chadwick’s Richard Albarran to arrange a meeting. There must’ve been a fair degree…


Hall Chadwick’s Validus DIRRI heavy on referrer detail

Hall Chadwick’s Richard Albarran and Brent Kijurina have lodged a detailed and informative declaration of independence, indemnities and relevant relationships (DIRRI) after accepting an appointment as administrators of Validus Advisory Group. The detail was necessary to explain why there was no unmanageable conflicts given that Hall Chadwick’s Blair Pleash and Kathleen Vouris had previously been administrators of a deed of company arrangement (DoCA) executed by…


MK liquidator floored by phoenix allegation

Sydney liquidator Steve Naidenov has been asked if he knew an insolvency appointment was a phoenix transaction during an at times heated public examination into the affairs of the MK Floors Group. The question, which Naidenov strenuously rejected, came towards the end of the first day of a multi-day examination brought by the Commonwealth’s FEG Recovery Unit. FEG is seeking $1.5 million from Naidenov and Veritas Advisory head…


Veritas pair ousted by RSM duo

Whilst INO’s not intentionally focussing on Veritas Advisory, the firm certainly seems to have its cup full in recent times and this week we came across the interesting case of Peter O’Brien Constructions Pty Ltd, which recently passed from the control of Veritas principal Steve Naidenov to the RSM duo of Frank Lo Pilato and Jonathan Colbran. One of the most notable elements of this matter relates…


Wanted – liquidator for Gatto Corp

Here’s an unusual situation – application has been made to wind up Gatto Corporate Solutions but the lawyer representing the petitioning creditor has no insolvency practitioner to recommend. Usually a lawyer can’t propose an experienced and licensed practitioner quick enough. After all, he or she knows that putting forward their preferred practitioner will likely to lead to work flowing back their way. But in the…



Affirmation of CALDB decision dooms Joubert

ASIC’s long pursuit of Randall Joubert looks set to finally conclude after the Administrative Appeals Tribunal (AAT) yesterday affirmed a 2016 decision of the Companies Auditors Liquidators Disciplinary Board (CALDB) recommending that Joubert’s registration as a liquidator be cancelled. In Joubert and Members of the Companies Auditors and Liquidators Disciplinary Board [2018] AATA 944 (19 April 2018) AAT deputy president Brian Rayment QC said in conclusion: “I…