HM Advisory’s Cameron Gray. After being told that he and not the court would need to decide whether the winding up of Mawson Infrastructure Group Inc (MIGI) should continue Cameron Gray has chosen the option least likely to provoke MIGI’s American interests into a nuclear response. The renewables option if you will. Facing contempt proceedings in the US and a hostile board that’s impugned the…
WLP Restructuring Scott Pascoe. WLP Restructuring partner Ben Ho. The former controlling trustees of bankrupt deal maker Jon Adgemis could be stripped of their registrations after being issued with show cause notices by the Inspector General in Bankruptcy (IGB). “The Australian Financial Security Authority (AFSA), led by the Inspector‑General in Bankruptcy, has issued show cause notices to a number of registered trustees regarding concerns about…
Paul Leroy. Counsel for the Inspector General in Bankruptcy (IGB) told the Federal Court that the IGB has uncovered an additional $500,000 allegedly pilfered by Paul Leroy, the ex-trustee in bankruptcy who departed the jurisdiction in December 2023 and is now residing in Belgium. Barrister Bridget Slocum told Federal Court justice Shaun McElwaine on Friday that since the IGB had commenced the current proceedings in…
ADVERTORIAL Federal Court Justice Michael Lee. How company directors comply with their obligations in the age of Artificial Intelligence (AI) will be one of the key themes of a presentation to be delivered by Federal Court justice Michael Lee to delegates at BCR Advisory’s accounting and legal conference in the Malaysian capital of Kuala Lumpur in September. “I suspect that a lot of people going…
ReGroup Solutions CEO Ben Heaney. He might have graduated from Hank De Jonge’s academy of pre-insolvency but a first class education in the opaque arts of business restructuring apparently did not equip Queenslander Ben Heaney with the skills necessary to avoid accumulating a surfeit of tax debt. Last year Heaney and business partner Michael Durbridge resolved to change the name of their turnaround advisory, ReGroup…
Hall Chadwick’s new UK practice head Deviesh Raikundalia. Six months ago Richard Albarran was in New York to ring the bell on the NASDAQ listing of Hall Chadwick Acquisition Corp, a vehicle purportedly established to invest in the US-led bid to wrest from the Chinese communists control of the strategic minerals supply chain. Last week Albarran and Hall Chadwick majority shareholder Drew Townsend brought into…
McGrathNicol partner Shaun Fraser. The security interest shell game Sanjeev Gupta has played with the assets of GFG Alliance was always going to come under scrutiny once one of the group’s entities fell into the hands of independent liquidators with funds. That scrutiny was also always going to include Gupta’s lenders, lawyers and advisors and last month in the Federal Court McGrathNicol’s Shaun Fraser and…
If you’re a member of a professional association – ARITA, CAANZ, AIIP or TMA Australia – you need to accumulate Continuing Professional Education (CPE) or Continuing Professional Development (CPD) credits to achieve your triennial total. What better way than with a subscription to iNO where the exercise is augmented by the joy of Schadenfreude on almost every page? Why reading iNO satisfies non-verifiable CPEiNO comfortably…
PKF partner Simon Thorn. We don’t know if it’s a testament to the generally high standards maintained by Australian liquidators or an indictment of ASIC’s stretched enforcement capability but up until last month there hadn’t been a referral to a disciplinary committee under section 40-50 of Schedule 2 to the Corporations Act in almost four years. The last time a Committee was convened to deliberate…
Advertorial AIIP Committee chair Kathleen Vouris. In trauma medicine it’s called the golden hour. The sixty irreplaceable minutes following serious injury. If utilised effectively those precious moments represent a patient’s best chance of lasting recovery. In insolvency, licensed practitioners are the corporate paramedics, first responders required to deal with financial emergency and relied on to know what treatment, if applied in time, will staunch haemorrhaging…