Liquidator at large: Marcus Ayres. Adios EY – Brett Lord. To lose one senior partner from your restructuring team might seem like carelessness but two? Simultaneously? Such however is the situation EY finds itself in following the resignations of Sydney-based insolvency supremos Marcus Ayres and Brett Lord, who gave notice before Christmas. While Ayres has already departed, Lord is we understand negotiating his notice period….
From FTI to Ankura – Preeti Inchody From FTI to Ankura – Liam Healey Given Ankura’s global boss Kev Lavin was once part of FTI Consulting it comes as no surprise to see Quentin Olde, the man responsible for establishing Ankura’s presence down under and himself a relatively recent departee from FTI, turning to FTI’s ranks to build a team. Olde was on Linked In…
Registered trustees, debt agreement administrators & other insolvency practitioners – can you help with research on personal insolvency law? A Melbourne Law School PhD study is researching the options available for people who are over-indebted, including bankruptcy and debt agreements. Nicola Howell’s study is focusing on the impacts of the different options on debtors, including the extent to which debtors improve their financial situation and…
January: iNO’s 2019 coverage kicked off with a story related to the topic that had dominated our headlines in December 2018 – namely the decision by Jirsch Sutherland to terminate the employment of partner Amanda Young days before Christmas. In the near term aftermath Young’s brother and a former managing partner of Jirsch Sutherland Sule Arnautovic resigned as liquidator of St Gregory’s Armenian School Inc,…
At PwC no longer: Ben Craw PwC has lost a respected name in the food and agribusiness sector with Ben Craw leaving to form a new venture in partnership with Gunn Agri Partners. Formerly part of PPB Advisory’s well regarded agribusiness division, Craw joined PwC 18 months before it swallowed PPB whole. Craw, 41 didn’t respond to inquiries by deadline but his Linked In profile…
PKF’s Brad Tonks. The admission of a related party debt appears to have been sufficient for a court to agree to replace an incumbent liquidator with an applicant creditor’s preferred appointee. In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 NSW Supreme Court judge Ashley Black made orders replacing liquidator Adam Farnsworth with PKF’s Brad Tonks. This was on the application…
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…
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…
Amanda Young. 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 alleged general contravention by a liquidator while (m) involves the…
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…