Hogan Sprowles partner Brendan Copeland. Fish rotting under floorboards, anti-vacaters, rivals threatening to scrutinise your fees and freezing orders impeding progress – as liquidator and receiver of Fellmane Pty Ltd Brendan Copeland has earned his fees. Certainly NSW Supreme Court judge Ashley Black thought so when on Monday he found no reason to block or discount the Hogan Sprowles partner’s claim for $263,000 in remuneration,…
Ex RSM partner Dave Mutton – another liquidator going it alone. RSM Partner Jonathan Colbran. If liquidators leave their firms to start a new venture and take none of their appointments does that indicate that a parting was less than amicable? Not necessarily is the only appropriate reply to such rhetorical gambits but the thought occurred to iNO – as such malignancies tend to –…
Farshad Amirbeaggi. Mackay Goodwin principal Domenic Calabretta. Image courtesy Mackay Goodwin. A liquidator’s estimate of a return to creditors of between 51 cents and 100 cents in the dollar may have been imperilled after attempts to appoint a receiver to sell a luxury property in Bali were rejected by the courts. In failing to have a receiver appointed Hayes Advisory principal and liquidator of Sirrah…
RSM’s Frank Lo Pilato. RSM partner Frank Lo Pilato has had to take a haircut on his fees and expenses on the liquidation of Circular Quay Restaurants Pty Limited after an absence of funders forced him to settle on pauper’s terms with the family of corrupt former Labor politician Eddie Obeid. As was revealed in the NSW Supreme Court on Monday, Pilato agreed to the…
Vincents director Henry McKenna. Being a deed administrator (DA) of one company whilst voluntary administrator (VA) of a related entity doesn’t have to present insurmountable obstacles in regards to independence, but when it comes to persuading a court why a winding up application of the company in VA should be adjourned, you have to bring your A game. That includes providing compelling reasons why a…
ASIC, all powerful approver and refuser of applications from those aspiring to be registered as liquidators, has arrested the worrying decline in the accountancy sub-species with latest figures showing the number of RegLiqs has bounced off a 20 year low. In its recent Licensing and professional registration activities: 2021 update the regulator revealed that after approving 31 applications for registration in the period from July…
Grant Thornton’s Said Jahani. McGrathNicol partner and forensic accounting guru Robyn McKern. The litigation being pursued by Delta Coal Mining Pty Ltd (Delta) liquidators Said Jahani and John McInerney is set to test the forensic mettle of McGrathNicol partner and referee in demand Robyn McKern. The Grant Thornton pair have commenced proceedings for unfair preferences and for insolvent trading with combined claims totalling $25 million….
O’Brien Palmer’s Daniel Frisken. Failing to adequately discharge one’s onus has come back to bite a Sydney liquidator who now has an adverse costs order attaching to whatever assets the company he controls might possess. As is explained by NSW Supreme Court judge Kate Williams In the matter of Pacific Steelfixing Pty Ltd (No 2) [2021] NSWSC 1129, whilst O’Brien Palmer partner Daniel Frisken did…
Cor Cordis partner Jeremy Nipps. Cor Cordis partner Barry Wight. Cor Cordis partners Barry Wight and Jeremy Nipps have taken great care to read the tea leaves in respect of their recent application to the court for orders appointing Mark Korda and Rahul Goyal as receiver/managers of Elite Opera Holdings Pty Ltd (EOH). The pair could have applied to have themselves appointed as receivers to…
Morton + Lee Insolvency’s Gavin Morton. There must always be a little more spice attaching to a public examination for both liquidator and examinee when the latter was the former’s referrer. A little more relish too perhaps. Following receipt of the summons to appear the referrer may well have thought: ‘Well don’t expect any more work from us old bean’, or words to that effect….