Morton + Lee Insolvency’s Gavin Morton. “No”. With that one word Australia’s collective population of registered liquidators and insolvency specialists let out a resounding cheer, because it meant that the Full Bench of the Federal Court had decided not to ruin their Christmas. “The creditor claims to be entitled to set off its obligation under s 588FF of the Act to repay the preference received…
Moore Recovery’s Desmond Teng. Every week another new insolvency firm seems to emerge as practitioners of an optimistic bent bet on the resumption of a rate of external administrations consistent with Capitalism’s proper and unimpeded functioning. This week iNO chanced upon an example not so much of a new occurrence as of a regeneration, through freshly minted Moore Recovery. As readers will be aware, the…
David Ingram has left Hall Chadwick to launch I&R Advisory. Liquidator David Ross will join David Ingram in 2022. Former Hall Chadwick partner David Ingram had obviously been plotting his exit from the national mid-tier for some time before his decision to pull the pin was revealed publicly in orders made in the Federal Court on Monday. In the wake of an application pursuant to…
Savants’ Adrian Duncan. Adrian Duncan, the registered liquidator and a key investor in the failed 2005 bid to list Knights Insolvency Administration on the Australian Stock Exchange (ASX) is rumoured to have left Britain for South America after the UK regulator stripped him of his license and his firm Savants Restructuring was placed in administration. Three years after the Institute of Chartered Accountants in England…
Resigned. Ex- Jirsch Sutherland partner Daniel Civil. Among the litter of fledgling new insolvency firms that have been spawned during this pandemic period, there have also been – inevitably – departures. The grass always looks greener when you’re standing on scorched earth. In recent weeks national mid-tier Jirsch Sutherland has lost two senior operatives with the departures of chief operating officer Gareth Gammon and long…
Proposed Salt Lake Potash Limited Special Purpose Administrator Dermott McVeigh of Avior Consulting. So you concede your appointment might appear to be less than entirely free of conflict, that regulators and others are scrutinising the circumstances of said appointment and your solution is to apply to a court to appoint a special purpose administrator (SPA), whose job will include clearing you (hopefully) of any conduct…
Justice Michael Lee. When a judge describes lawyers fee estimates as “massively excessive” you have to wonder why such a wrecking ball descriptor is prefaced with the phrase “with respect”? Condemnation of legal fees reeking of avaricious opportunism however is not an issue from which Federal Court judge Michael Lee shies away. “I don’t want there to be wheel spinning correspondence between solicitors.” Justice Michael…
Menzies Advisory’s Michael Caspaney. Cor Cordis partner Rachel Burdett. There are so many elements to the Modscape Pty Ltd saga that it’s difficult to know which strand to yank first but in homage to our abyssal tabloid instincts iNO will commence with the most recent, involving a former liquidator of the company whose fees and costs are under review. That review has been brought by…
Worrells’ Christopher Darin. Hall Chadwick’s Richard Albarran. Unexploded munitions, restive tribespeople, a controversial Chinese-Australian-Malaysian businessman, a Solomon Islands High Court-ordered $50 million payout ruling and a government reluctant to pay – what self-respecting insolvency practitioner wouldn’t want a slice of this pie? Certainly neither Worrells Chris Darin or Hall Chadwick’s Richard Albarran and Kathleen Vouris are showing any signs that the flavour – more copra…
EY’s Sam Freeman. EY’s Colby O’Brien. Two of EY’s finest are not letting any impending ARITA sanction impede progress of their work as administrators and liquidators of Pindan Group, the West Australia-based construction and property group that availed itself of EY’s reassuringly familiar services in May of this year. Last month in the Supreme Court of West Australia Sam Freeman, Colby O’Brien and Vincent Smith obtained various grants…