Social/Professional

Ex-Deloitte partner quizzed over Last Lap restructure

Cor Cordis Melbourne partner Bruno Secatore. Deloitte Restructuring Consultant Simon Wallace-Smith. Eventful on multiple levels best describes yesterday’s public examination (PE) of former Deloitte partner and now consultant Simon Wallace-Smith, who was being questioned about his former tenure as liquidator of Last Lap Pty Ltd by counsel for the current incumbent. To start with, there were problems with all the parties being on the same…


Talent Transfer: More Deloitte defections

Michael Billingsley has left Deloitte and joined Cor Cordis. Whilst we wouldn’t want readers to think today’s edition is all about Deloitte and Cor Cordis iNO couldn’t resist the opportunity to indulge in some “you heard it here first” triumphalism. The occasion which gives us cause to crow is the confirmation by liquidator Michael Billingsley that he has joined what seems something of an exodus…


For Bettles or Worse ASIC seeks life ban

Worrells partner Jason Bettles. The corporate regulator has returned to the fray in its ongoing campaign to rub out Jason Bettles, calling for the Worrells partner to be stripped of his liquidator’s ticket and banned for life. In a 160 page Statement of Claim filed in the Federal Court last week, ASIC alleges that Bettles’ conduct in respect of the Members Alliance Group of Companies…


dVT duo cop whopper Timbercorp debt

dVT Group founder Anton De Vries dVT’s Riad Tayeh A recent judgment of the Supreme Court of Victoria might see amiable dVT Group partner Riad Tayeh forced to take decisive action, which could ultimately include declaring bankruptcy. The reasons for such a potential and at this stage hypothetical course lie in the findings of Victorian Supreme Court Judge Peter Riordan, who on February 5 ruled…


Macks cops 3 year suspension for dishonesty

Macks Advisory’s Peter Macks. A judge of the Supreme Court of South Australia has ordered that the registration of liquidator Peter Ivan Macks be suspended for three years after finding that he had fabricated documents in a failed bid to divert scrutiny of his conduct by the Australian Securities and Investments Commission (ASIC). The finding of dishonesty by Justice Sam Doyle handed down last Friday…


Trustshees to enjoy 20% of pie as AFSA tackles bias

AFSA deputy ceo Gavin McCosker Australia’s trustees in bankruptcy are about to learn the detail of a proposal that would see up to 20 per cent of all files AFSA and the Official Trustee farm out to private trustees reserved for the 10 per cent who are female. iNO’s spies divulged this week that the Australian Financial Security Authority (AFSA) is preparing to seek feedback…


Hall Chadwick loses one trustee, gains another

Hall Chadwick’s new head of Personal Insolvency John Shanahan. Thinning liquidator ranks lose another: Kristen Beadle. As iNO reported elsewhere today, Melbourne-based Kristen Beadle has left Hall Chadwick and the insolvency profession to take up a role as manager public practice and SME with CPA Australia. iNO understands Beadle also intends to let lapse her registrations as a registered liquidator and trustee in bankruptcy. Hall…


Appointments plunge in 1st half FY 20/21 – Statistics

No 1 for 1st half 2020/2021 – Hamilton Murphy’s Stephen Dixon. Sivaa Consulting’s analysis of ASIC’s latest insolvency statistics are out and the ravages wrought by measures imposed to combat COVID 19 are plain to see with registered liquidators reporting average declines of 50 per cent in formal appointments for the first half of FY 2020/2021 compared to the previous corresponding period. 1,614 CVLs were…


ASIC retreats on bid to ban liquidator

Trajan John Kukulovski. Well a three year suspension sounds preferable to cancellation of one’s registration as a liquidator so iNO reckons there was cause for celebrations aplenty over Christmas in the household of John Kukulovski. Kukuwhoski you ask? For readers unaware of the object of iNO’s interest, we refer you to the public announcement of this great nation’s corporate regulator on January 13, 2021. On…


VA Verney falls on sword at 11th hour

11th hour sword fall – Greyhouse Partners’ Ben Verney. Sydney based insolvency practitioners Chris Palmer and Liam Bailey supplanted Melbourne counterpart Ben Verney late last year after court orders were agreed less than a day before Verney and the creditors wanting him gone were due to put their conflicting arguments before NSW Supreme Court Corporations judge Ashley Black. On Monday December 28, short minutes of…