Social/Professional

ARITA, TMA square off over SME reforms

TMA Australia President Carl Gunther. There’s nothing like starvation, marinated in the promise of feasts to come, to expose the rifts between rivals. To wit the recent outbreak of unpleasantries between the Australian Restructuring and Turnaround Association (ARITA) and the Turnaround Management Association (TMA), which began after ARITA announced late last month that it had detected a potential issue with section 588GAAA Safe harbour— temporary…


Liquidator’s departure announced by lawyer

Departed Hall Chadwick – David Ross. You know a referral relationship must be tight when an insolvency firm’s lawyer announces the resignation of a senior partner by posting the orders listing the exads the partner’s retiring from on social media. That’s at least what we thought when we saw a post by DSS Law’s Ben Skinner recently declaring that he had “had the pleasure of…


Liquidator of LMIML challenges receiver’s fees

FTI Consulting’s John Park. LMIML receiver David Whyte. If recently retired BDO partner David Whyte ever thought the finalisation of his work as receiver of LM Investment Management Limited (LMIML) would be uneventful, then FTI Consulting’s John Park has well and truly disabused him of that notion. In recent months Park has, as liquidator of LMIML, challenged Whyte’s remuneration claims, with the most recent challenge…


PKF pounces as Hall Chadwick bounces

In: PKF’s Paul Allen. Out: Hall Chadwick’s Richard Lawrence. The torment endured by Hall Chadwick pair Richard Lawrence and Richard Albarran these last 18 months came to an end this week when creditors of Tauro Capital (In Liq) turfed them out to make way for Paul Allen and Jason Stone from PKF. iNO’s agents in Melbourne reported that Tauro creditors, some of whom had been…


PwC loses rainmaker as Chris Hill heads to FTI

Heading to FTI? Chris Hill. Restructuring gun Chris Hill was reportedly “miserable” at PwC and jumped to FTI Consulting after being conflicted out of a shot at Virgin sayeth the insolvency sector grapevine, which iNO yesterday pruned assiduously for insights, straight answers from Hill or FTI Australia practice leader Mark Dewar being yet to fruit. The move was reported in the AFR’s Street Talk column…


ASIC reshuffle loads up Eszenyi with auditors

ASIC’s top liquidator cop Thea Eszenyi now policing auditors too. Some iNO readers will be aware that there’s been a great of shuffling of senior roles over at the Australian Securities and Investments Commission (ASIC) of late, and while most of what little media attention there has been has focussed on the implications for ASIC’s most senior regulators, Thea Eszenyi, who is responsible the regulation…


Weston V Cathro over 2nd bite of South Pelagic

DW Advisory’s Paul Weston. Worrells partner Simon Cathro. DW Advisory’s Paul Weston is demonstrating an optimistic streak of generous width, putting his hand up to replace the man who replaced him little more six months ago. Weston, who did not respond to inquiries prior to iNO’s deadline, has been given the chance to takeover as liquidator of South Pelagic Holdings Pty Ltd. That opportunity has…


ARITA expels member Steve Naidenov

Expelled from ARITA – Aston Chace principal Steve Naidenov. Aston Chace principal Steve Naidenov has been expelled from ARITA after failing to provide responses that the peak insolvency and restructuring organisation found satisfactory. In a short statement published this morning ARITA said Naidenov’s membership was terminated yesterday after he failed “…to provide a reasonable response to ARITA’s inquiries regarding his conduct in relation to a…


Deed of Assignment a first for Deputy Commissioner

Minter Ellison’s Michael Hughes. Told the court he had been advised the deed of assignment with the Deputy Commissioner of Taxation was a first. Firsts are generally worth a mention and Sydney liquidator Steve Nicols has reportedly chalked up such a milestone by entering into a deed of assignment that transfers a cause of action in the winding up of Anatax Pty Ltd to the…


The vicissitudes of van der Velde priced at $300,000

SV Partners managing director Terry van der Velde. SV Partners boss Terry van der Velde would’ve known it was coming but it seems a costs order of $298,898.49 is a sum even a successful mid-tier insolvency chieftain can’t effortlessly cajole from one’s indemnity insurer. van der Velde’s vicissitudes were made manifest on August 12 by Federal Court Registrar Tom Morgan, who determined that a previous…