Social/Professional

Breaking: BRI Ferrier defectors rebadging as SV Partners SA

Stuart Otway. Alan Scott. The rumour mill’s running hot as Hades in the city of churches with iNO reliably informed that BRI Ferrier duo Alan Scott and Stuart Otway are preparing to rebadge as SV Partners. SV partners and Jirsch Sutherland have been making approaches to Adelaide-based insolvency practitioners for some time according to our sources and it would seem that SV has decided to…


Colourful creditors claim big in Henderson bankruptcy

Bankrupt and owing $26 million Sam Henderson. Insolvency practitioners presumably apply an exacting rigour to the management of their own financial affairs so your correspondent’s eyebrows headed for the stratosphere last week when we learned that bankrupt insolvency practitioner Sam Henderson apparently owes his creditors almost $26 million. The outlandish figure – the $26 mil, not Henderson – was contained in the first report to…


Suspended liquidator referred under Schedule 2

Suspended liquidator Amanda Young has been referred to a Schedule 2 Committee. It’s been almost 12 months since her employment was terminated but challenges continue for suspended liquidator Amanda Young. Last week ASIC referred the former Jirsch Sutherland (Jirsch) partner to a Schedule 2 Disciplinary Committee, alleging misconduct in respect of sections 40-40(1)(f) and (m) of the Insolvency Practice Schedule. Section 40-40(1)(f) deals with an…


Mass request a reminder that Amerind ain’t over

FEG Recovery Unit Director Henry Carr. The Commonwealth is coming and in hindsight the mass of request for information letters sent to registered liquidators (RegLiqs) recently by the FEG Recovery Unit should not surprise. Once FEG’s view on corporate trustees and circulating assets was vindicated by the High Court, as it was last June in: Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth…


Quadrilla for BPS at accountants Regatta

It’s yet again that time of year. BPS Recovery’s Max Prentice. That time when a race stops a nation, that time when raucous assemblies swell grateful eateries, and that time when accountants go down to the sea in ships, or, at least down to sheltered inshore waters in yachts, their clients clustered boisterously in cockpits, their volunteer crews anticipating an easy sail before confronting the…


Wily where art thou? Ex-liquidator forfeits cash

Ex-liquidator Andrew Wily (C) exiting the NSW Supreme Court. The problem with retiring to enjoy the fruits of a life’s labours as ex-liquidator Andrew Wily has done is that sometimes you forget about some of the fruit. Back in 1999 Wily was appointed liquidator of a thing called Liquid Vision. “In a sense, Mr Wily has also ceased to exist, at least in his capacity…


Insolvency inquiry overlooking the obvious

Australian Small Business and Family Enterprise Ombudswoman Kate Carnell.Image Supplied. The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) will conduct an inquiry into the insolvency system with a view to determining if current practices “achieve the best possible outcome for small and family businesses in financial trouble.” Never mind that small business owners are the largest contributors to Australia’s multi-billion dollar unpaid tax bill,…


ATO ousts Hall Chadwick pair from payroll group

Hall Chadwick’s Richard Albarran. Hall Chadwick’s Brent Kijurina An accounting practice principal has insisted that his firm has no referral relationship with Hall Chadwick despite referring multiple appointments to Hall Chadwick’s Sydney practice and engaging the wife of a Hall Chadwick staffer as a bookkeeper. During public examinations in the Federal Court last month Hafez Alameddine, principal of Macquarie Accountants, answered “Privilege. No” when asked…


Liquidator Peter Amos subject of RevLiq scrutiny

Subject to a RevLiq: Amos Insolvency’s Peter Amos. Editor’s Note: iNO reported in an earlier version of this story that AAF funds would be recovered via the Industry Funding Levy. ASIC has since advised that this is NOT the case. After reporting last week on the appointment by ASIC of two Reviewing Liquidators (RevLiqs) iNO has learned that one of the unfortunates under review is…


Insolvency Rankings FY 2018/19

Sivaa Consulting has released its compilation of appointment statistics for Financial year 2018 and 2019 (FY 2018/19) and among the numbers is one figure that stands above all others – of 199 insolvency firms nationally, 17 control almost 50 per cent of all external administration files. Clearly some firms are better at bringing in work than others and the Sivaa stats show not only who…