Social/Professional


BRI Ferrier – partners at odds over departure

BRI Ferrier’s Peter Krejci. BRI Ferrier’s Brian Silvia. One thing you can say about veteran insolvency practitioner and BRI Ferrier NSW partner Brian Silvia is that he’s not the type to go quietly, which is probably why the sound of equity holders’ heads butting has reached iNO’s ear, all the way from BRI’s offices atop Australia Square. iNO’s intelligence network has learned that Silvia and…


Liquidator overturns breach of fiduciary duty finding

CRS Warner principal Anthony Warner Insolvency Experts’ principal Steve Kugel. Sydney liquidator Anthony Warner has had a partial but important win this week in his marathon dust up with former business partner and liquidator Steve Kugel. In Warner Capital Pty Ltd v Shazbot Pty Ltd [2020] NSWCA 121 three judges of the NSW Supreme Court’s Court of Appeal on Wednesday overturned the decision of Justice…


Ex-Jirsch partner tricked brother into signing cheques

Amanda Young. Former Jirsch Sutherland partner Amanda Young allegedly tricked her brother into signing cheques drawn on a liquidation account then deposited the funds into three of her personal credit card accounts, a disciplinary committee has found. Young allegedly deceived her older brother, Jirsch Sutherland partner Sule Arnautovic, by presenting him with multiple cheques to sign in his capacity as liquidator of the St Gregory’s…


Liquidator to relinquish casting vote on Tauro offer

Hall Chadwick’s Richard Lawrence. Tauro Capital and Apollo League director Simon Ward. Hall Chadwick Melbourne partner Richard Lawrence will refrain from exercising his casting vote in the event there is a deadlock between creditors prepared to accept Tauro Capital director Simon Ward’s compromise offer and those who want his head. In a report issued to Tauro creditors this week Lawrence said that as a consequence…


Bulkbuild VA ousted as barking subbies bite

Morton + Lee Insolvency’s Leon Lee. Hall Chadwick’s Ginette Muller. The knives were out from the start when Queensland liquidator Leon Lee accepted the appointment as voluntary administrator (VA) of Bulkbuild Pty Ltd but after the deed was done, the steel sheathed and the stains erased, some of his despatchers were possessed of a benevolent magnanimity. “They said he’s not a bad guy,” a source…


Bulkbuild administrator adjourns amid acrimony

Morton + Lee Insolvency’s Leon Lee. Voluntary administrator Leon Lee has denied adjourning a meeting of creditors of Bulkbuild Pty Ltd last week to prevent a vote to replace him. On Thursday Lee presided over the first meeting of creditors of Bulkbuild, to which he was appointed by sole director Digen Yi Hur on May 18. Accounts of what transpired before the meeting was adjourned…


Stat demand rebounds as costs imposed on dVT duo

dVT’s David Solomons dVT’s Riad Tayeh Stat demands, divorcees and former business partners now rivals in the Northern Territory’s child care sector? The question here is what could possibly go right. Sydney liquidators David Solomons and Riad Tayeh might well be wondering the same, after a Judge of the Queensland Supreme Court found that liquidators don’t have to have acted unreasonably before they can be…


Jirsch clings to defector’s dozen

Marcus Watters – A dozen jobs the price of joining Hall Chadwick. With the departure of Marcus Watters, Jirsch Sutherland has lost a senior Queensland operative to rival Hall Chadwick but it’s clung tenaciously to the departee’s dozen or so appointments, ensuring whatever worthwhile WIP might reside in those jobs has been kept out of the coffers of Jirsch’s fiercest foe. Watters moved to Hall…


ARITA subpoenaed as Cor Cordis duo biff with insurer

Cor Cordis NSW partner Ozem Kassem. Image courtesy Cor Cordis. It’s probably not every day the chief professional body for registered liquidators and bankruptcy trustees cops a subpoena but it happened recently in regard to former member and Cor Cordis partner Ozem Kassem. Kassem was expelled from Australian Restructuring Insolvency and Turnaround Association (ARITA) in April 2018 for refusing to engage an independent assessor to…