Olvera Advisors’ Kate Barnet. Liquidator Bill Fletcher. Liquidators Kate Barnett and Bill Fletcher have been exonerated by a committee convened in July this year to consider contraventions ASIC alleged were perpetrated in the early days of the Octaviar liquidation. The allegations were brought to Barnett and Fletcher’s attention in show cause notices under section 40-40 of the Corporations Act issued by ASIC in 2019. After…
Aston Chace’s Vincent Pirina. Aston Chace principal Steve Naidenov. There’s an interesting issue in the recent judgment of NSW Supreme Court Justice Ashley Black, who’s rejected efforts to prevent liquidators from deriving a profit via work done by employees of two incorporated accounting firms with which the liquidators either are or were associated. In the matter of Karim Pty Ltd (in liq) [2020] NSWSC 1603…
Worrells Partner Aaron Lucan. Worrells’ partner Aaron Lucan has been ordered to pay an indemnity costs order personally after indulging a seven month silence in respect of proceedings brought against the Deputy Commissioner of Taxation (DCoT) by a company to which Lucan is the appointed liquidator. “The effect of ordering the first plaintiff to pay the defendants’ costs would be to visit the consequences of…
DW Advisory’s Paul Weston. Worrells partner Simon Cathro. Paul Weston has been appointed liquidator of South Pelagic Holdings Pty Ltd at a meeting convened at the behest of creditors seeking to punt Worrells’ Simon Cathro, whom a court had in February appointed to replace the company’s then administrator, Weston. Independence breach you shrill? No. Not a bit of it. At least not according to Weston…
Louttit & Associates’ Jamieson Louttit While the recent ICAC hearings were what put the spotlight on NSW Premier Gladys Berijiklian’s former relationship with former Wagga Wagga local member Darryl Maguire, Sydney insolvency practitioner Jamieson Louttit is also planning to illuminate certain activities connected to the disgraced ex-politician. Last month Louttit replaced PKF’s Brad Tonks as liquidator of UWE Hay Pty Ltd, UWE – Griffith Property…
Auxilium Partners’ Bob Jacobs. There will be jubilation in certain quarters following the sale last week of Pluton Resources’ iron ore operation on Cockatoo Island, located in the aptly named Buccaneer Archipelago off West Australia’s northern coast. Whilst Pluton receiver and Auxilium Partners principal Bob Jacobs can claim credit for succeeding where a procession of his predecessors failed, KordaMentha’s John Bumbak and Janna Robertson (now…
BRI Ferrier’s Peter Krejci. FerrierSilvia’s Brian Silvia. As was foreshadowed by iNO on July 1, veteran liquidator Brian Silvia has parted company with the BRI Ferrier group, though not with the Ferrier name as evidenced by the registration in June of FerrierSilvia Pty Ltd. iNO understands that the split of the NSW BRI Ferrier affiliate was formalised over the weekend. In a statement BRI Ferrier…
Macks Advisory’s Peter Macks. South Australian liquidator Peter Macks faked documents in an attempt to foil an ASIC investigation, a court has found. In Australian Securities and Investments Commission v Peter Ivan Macks (No.4) [2020] SASC 209 South Australian Supreme Court judge Sam Doyle said Macks had acted dishonestly and for the purpose of deceiving ASIC in respect of a memoranda Macks provided to the…
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. ASIC has suffered a humiliating setback in its bid to have the liquidator’s registration of Jason Bettles cancelled, with the Federal Court on Wednesday ordering the regulator to reformulate its…
ASIC’s top liquidator cop Thea Eszenyi. There’s nothing like internal ructions inside a big organisation – think chairpersons paid way too much to move from Hong Kong – to loosen a few lips so when ASIC’s chief liquidator cop Thea Eszenyi referred to $850,000 in costs the regulator had recovered from chastened liquidators who she declined to name it wasn’t hard for iNO to establish…