Social/Professional

Iannuzzi inquiry bid kicks off with assault on evidence

The much anticipated hearing of the Commissioner of Taxation’s application for a Federal Court inquiry into Sydney liquidator David Iannuzzi commenced this week with his defence team signalling a challenge to the admissibility of the ATO’s evidence. Iannuzzi is facing a multi prong attack from the ATO, which is seeking to have the court inquire into his conduct; an order that he be banned from…


Cor Cordis partner expelled from ARITA

The middle of a national rebranding campaign is not when a firm wants one its most senior and prominent practitioners to be unfavourably exposed but following publication of a disciplinary notice by ARITA, Cor Cordis finds itself in such a position. Posted on the ARITA website last Friday, the notice discloses that Ozem Kassem, one of Cor Cordis’s senior partners in NSW, has been expelled from…


Top Ranking Insolvency Practices in 2018 – 1st quarter

Stratos Legal has released its numbers for insolvency appointments for first quarter 2018 and they show that while some firms that dominated 2017 are off to a similarly buoyant start this year, others that finished on top in 2017 are lagging. Mackay Goodwin for example, which led the list of voluntary administrations (VAs) in NSW at the end of last year with 35, is currently not…


Leigh to defend PPBA/Neolido fraud claim

David Leigh, the former PPB Advisory (PPBA) partner who stunned the profession after it emerged he had allegedly pinched $800,000 to pay debts, is set to stun again. In the Supreme Court of Queensland yesterday, Leigh filed a notice of intention to defend a claim for recovery of the funds, launched on February 28, 2018 by PPBA. From what can be gleaned from the document…


Senatore flying solo after Deloitte departure

Deloitte’s Canberra office has undergone a modest restructuring of its own following the departure of partner and well known local identity Eddie Senatore. According to his Linked In profile, Senatore set up Eddie Senatore Advisory earlier this month and while the man himself could not be tracked down to discuss the reasons behind his exit, Deloitte confirmed the loss of Senatore hadn’t dented its determination…


PwC takeover of PPB/Litmus slated for July 1

PwC’s takeover of PPB Advisory/Litmus is scheduled to be completed by July 1, 2018 according to sources close to the deal who said a non-binding agreement is in place and due diligence underway. SiN understands that the big four accounting firm is keen to get its hands on the Litmus management consulting business and will take PPB’s traditional corporate restructuring and insolvency division with the…


Merger: PPB and PwC on cusp of consummation?

Maybe the 2016 merger with Litmus was just the beginning for PPB Advisory (PPBA) with SiN’s M&A network revealing that the national consulting, restructuring and insolvency practice founded by Max Prentice, Steve Parbery, and Vince Barilla in 1983 is discussing a merger with PwC. The merger talks – confirmed by well-placed sources – were said to be well advanced but neither firm would confirm or deny the reports when contacted late…


Consolidation: Jirsch and GM Advisory talk merger

Well we are in for a suspenseful weekend but SiN has it on exemplary authority that Jirsch Sutherland’s Brisbane office and Ginette Muller’s GM Advisory are on the cusp of merging. A source close to the talks said that barring any complications the deal is set to be inked on Monday, March 19. Assuming it proceeds Muller will very soon be reunited with her old underling from…


Neolido fraud: Leigh paid $100k to secured creditor

Court documents obtained by Sydney Insolvency News reveal that ex-PPB Advisory (PPBA) partner David Leigh paid $100,000 to a secured creditor out of a total $800,000 PPBA alleges he fraudulently misappropriated from the liquidation account of Neolido Holdings. According to an application for freezing orders filed by lawyers for PPBA last week, Leigh was questioned about the missing monies on Tuesday February 22 by PPBA Queensland…


Rodgers Reidy partner calls time on insolvency

After a year during which his family was targeted with death threats by people known to the police, Rodgers Reidy partner Rob Moody has decided he’s had enough. SiN understands Moodie, who did not want to comment for this story, asked ASIC to cancel his liquidator’s registration some time late last year after deciding he’d had enough of the insolvency game, particularly in regards to dealing with small business…