Worrells partner Jason Bettles. Editor’s Note: On Friday, August 18, 2023 Justice Brigitte Markovic of the Federal Court of Australia dismissed ASIC’s case against liquidator Jason Bettles and ordered the regulator to pay Bettles’ costs. While ASIC landed no killer blow yesterday Worrells partner Jason Bettles could not be said to have exited the Federal Court witness box unburdened by any remaining questions in respect…
Grant Thornton’s Mike McCann. Mackay Goodwin’s Domenic Calabretta. Creditors’ distaste for fees is on full display this week with the release of the Minutes of the May 11, 2022 meeting of CRCG Rimfire (CRCG). The meeting was convened upon the application of creditors seeking to oust incumbent CRCG deed administrators Mike McCann and Said Jahani who are believed by certain creditors to have levied excessive…
Agility Law Group managing director Levi Smouha. Cor Cordis partner Sam Kaso. There was always the likelihood with a collapse of the scale of Remi Capital Group that some of those exposed to the $125 million failure would be of the secured kind. In the case of Remi group entity Remi (Tarneit) Pty Ltd, the appointment of Cor Cordis partner Sam Kaso as receiver on…
RRI Advisory’s Trajan “John” Kukulovski. iNO readers may well remember our exclusive story of August 2, 2019 that exposed the tumult that had quietly engulfed Jirsch Sutherland back in 2015 as a consequence of an unspecified “confession” by former director Andrew Ngo. The alleged “confession” led to a meeting between ASIC officers and Jirsch founder Rod Sutherland and then managing partner Sule Arnautovic on November…
PKF partner Glenn Franklin. PKF partner Petr Vrsecky. Following their historic win in the Supreme Court of Victoria last month, two PKF Melbourne partners have secured orders in respect of the court’s finding that a business sale agreement constituted a creditor-defeating disposition and an illegal phoenix transaction within the meanings of ss 588FDB and 588FE(6B) of the Corporations Act 2001. As many iNO readers will…
dVT’s Antony Resnick. dVT Group co-founder Riad Tayeh A prominent liquidator facing bankruptcy proceedings has been expelled from the partnership he co-founded two decades ago. According to a judgment of the Federal Court of Australia, the liquidator was notified late last month by his fellow partners that he was liable for expulsion from the partnership as a result of being served a creditor’s petition, which…
Pitcher Partners’ Bryan Hughes. Sheridan’s Chartered Accountants principal Jennifer Low. It’s never a good look when a registered liquidator and senior partner of a national insolvency firm is summonsed to appear for public examination. When the examinee’s brother is involved in the brouhaha and there’s a glimmer of insolvent trading, well, it’s a sight to make eyes sore. “The (Titan) Board are satisfied they acted…
dVT Group co-founder Riad Tayeh Retired dVT Group co-founder Anton de Vries The clock is nearing a minute to midnight for dVT Group co-founder Riad Tayeh, with the Federal Circuit Court preparing to hear a creditor’s petition application lodged on May 10 by the liquidators of Timbercorp. If unopposed the 58 year old registered liquidator could be declared bankrupt next month. Such a declaration would…
When a minion nicks millions from creditors it’s no surprise that the make good is both instantaneous and inclusive of interest. For restructuring behemoth Deloitte, there was surely never any suggestion that the big four firm’s well-heeled partners would resile from repaying every cent allegedly looted from various liquidation accounts that had had some level of interaction with Paul Quill, the now ex-Deloitte Melbourne director…
KPMG’s Peter Gothard. EYs restructuring chief down under – Adam Nikitins. With an asset of the significance of the Basslink undersea electricity transmission cable linking Tasmania and the Australian mainland, it’s not difficult to imagine how a labyrinth of competing interests might have foiled the best efforts of the receivers appointed to the infrastructure group in November 2021 to effect a sale. That the receivers…