SV Partners’ David Stimpson. A recent judgment of Queensland Supreme Court judge David Jackson contains a wealth of insight into issues of relevance to insolvency practitioners, most notably those of solvency or insolvency, validity of appointment, remuneration and last but not least, disruptive humbug. Whilst the judgment represents an exceptional reference for practitioners and their legal advisors alike, some thought must be spared for the…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. “Nice try but no cigar” might have been the words chief judge in equity David Hammerschlag muttered as he put the finishing touches to his ruling on the application by three Hall Chadwick partners for an order that they were entitled to an equitable lien over funds that might normally have been excepted to be the exclusive…
Westburn Advisory’s Shumit Banerjee. Chifley Advisory’s Mohammad Najjar. In these hyper-competitive times missing out on a gig to a rival must sting and all the more so when lawyers are telling courts there are issues with your consent. This week lawyers appeared in the NSW Supreme Court in the matter of Dynamic Water Solutions Pty Ltd. An application to wind up the company was the…
Oracle Advisory founder Nick Cooper. Worrells partner Paul Burness. There’ll be a gnashing of teeth among Worrells’ equity partners after a court ordered Worrells Services Pty Ltd (Services) – which houses the Worrells network’s liquidation file data – to pay indemnity costs to former Worrells South Australia (SA) partner Nick Cooper. In a recent judgment handed down by Supreme Court of South Australia judge Katrina…
Aluminium underpants purchased with funds allegedly defrauded from Deloitte by ex-Restructuring Division director Paul Quill. One of the certainties to flow from the reporting to police of allegations of criminal conduct by former Deloitte director Paul Quill is that the big four firm’s forensic division now has a whole lot more work in front of it. Quill, who allegedly rorted more than $3 million in…
WLP Restructuring’s Glenn Livingstone. Hall Chadwick partner Sule Arnautovic. Coming before a judge with an incompletely charted special purpose liquidator (SPL) application must be considered to be a fraught exercise. But when the aspiring SPL’s proposed funder also demands an ogre-sized serving of any proceeds of litigation well, why bother incurring the filing fee? In this case those applicants – Philip King’s Rockgold Holdings and…
ADVERTORIAL Switzer Financial founder and RINGSIDE 2022 keynote speaker Peter Switzer. Small Business and Family Enterprise ombudsman Bruce Bilson. There’ll be no ho hum undercards or warm up bouts ahead of the main event at the Association of Independent Insolvency Practitioners (AIIP) Ringside 2022 Annual Conference. The line up of talent scheduled to assemble at Canberra’s Hyatt Hotel in late June promises hard hitting infotainment…
KPMG partner James Dampney. KPMG’s Peter Gothard. Electing to flog a chilled foods business to its main competitor has come back to bite current and ex-KPMG partners after they failed this week to have examinations summonses issued by the former owner of the business dismissed. On Wednesday in the NSW Supreme Court Judge Kate Williams ruled that Peter Gothard, James Dampney and former KPMG senior…
I&R Advisory partner David Ross. Hall Chadwick partner Blair Pleash. There’s admirable persistence and then there’s futile pursuit. iNO would not presume to opine on where the line between the two lies and in fact, armed with the recent judgment of Ross (Liquidator) in the matter of Print Mail Logistics (International) Pty Ltd (In Liq) v Elias [2022] FCA 296, speculation is unnecessary. The judgement,…
KordaMentha’s Mark Korda. Can there be any greater threat to reputation than judicial authority publishing slanders whilst cloaked in absolute privilege? Certainly insolvency industry titan Mark Korda might not think so. Last week the man whose reputation as one of Australia’s preeminent insolvency practitioners and restructuring advisors has been forged over 40 years at the sharp end of corporate distress had his name besmirched in…