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Social/Professional

DIRRIs, Liquidators, Social/Professional 14 December 2018

Jirsch partner suspended amid fraud investigation

Jirsch Sutherland partner Amanda Young has been suspended as authorities investigate an alleged fraud. In a statement to Insolvency News Online yesterday Jirsch Sutherland managing partner Bradd Morelli confirmed an employee had been stood down and an external investigation was underway. “Jirsch Sutherland has identified a case of possible fraud by an individual employee and has taken immediate action to investigate and report the matter,” Morelli said….

Fees, Liquidators, Social/Professional, VA's & DoCA's 12 December 2018

VAs acquiesce to fee cut after liquidator objects

Cor Cordis partners Ozem Kassem and Jason Tang have had the fees they generated as administrators of Attack Engineering Pty Ltd lopped following objections by Steve Nicols, who replaced them when the company was wound up. Kassem and Tang were appointed administrators of the Coffs Harbour-based firm on August 29, 2017 after receiving a referral from Shine Lawyers’ James Hulbert. That appointment followed winding up proceedings initiated by the Australian…

Corporates, Deals & Departures, Liquidators, Social/Professional 7 December 2018

HLB Mann Judd miss second chance to bulk up in QLD

Barry Taylor’s plans to lure a Queensland-based registered liquidator into the HLB Man Judd fold have again been foiled after John Shanahan of Gervase Consulting decided not to proceed with a joint venture the two parties have apparently been mulling over for some time. Sources said the parties had been close to a deal but that Shanahan decided the fit wasn’t quite right and he was…

FEG, Judgment, Liquidations, Liquidators, Social/Professional, SPL 5 December 2018

FTI Consulting’s Dunn refused FEG document requests

More detail has emerged about the possible phoenix transaction that has embroiled FTI Consulting’s Joanne Dunn in an unseemly scrap with the Commonwealth’s FEG Recovery Unit. In Commonwealth of Australia, in the matter of ACN 093 117 232 Pty Ltd (in liquidation) v ACN 093 117 232 Pty Ltd (in liquidation) [2018] FCA 1922 Federal Court Justice Roger Derrington has granted FEG orders for the appointment of a special…

Advertorial, Social/Professional 5 December 2018

AIIP Conference to tackle climate of change

Advertorial In June this year INO reported from the inaugural conference of the Association of Independent Insolvency Practitioners (AIIP), observing that the delegates gathered at Canberra’s Hyatt Hotel break seemed hungry for change. Perhaps that collective mindset was prophetic? When AIIP members gather in Canberra next time Winter rolls around the theme of the 2019 conference will be “Dealing with Change”. Be careful what you…

Advertorial, Social/Professional 5 December 2018

Christmas cocktails for worthiest cause

Advertorial On December 19 Ladies Insolvency Professionals (LIPS) will be hosting its annual Christmas Cocktail function and like last year, much of the focus will be on raising funds for the family of much loved liquidator David ‘Shanno’ Shannon, who died on December 18, 2017 after a long battle with motor neurone disease. To commemorate a year passing since Shanno’s death a portion of the $65…

ATO, DIRRIs, Fees, Lawyers, Litigation, Receivership, Referrers, Social/Professional, VA's & DoCA's 23 November 2018

Familiar faces in Fearndale fight

A spat over control of Fearndale Holdings‘ shale quarry has flushed out a real crowd from the world of insolvency and the sometimes connected world of individuals who’ve captured the attention of the ATO. Back in May 2018 Balance Insolvency’s Tim Cook was appointed voluntary administrator of Fearndale Holdings which has some claim to the quarry at Luddenham in Sydney’s west. This week the Supreme Court heard…

ARITA, Discipline, Social/Professional 23 November 2018

ARITA torpedoes logo pirates

You have been warned. Displaying ARITA’s logo is a no no. In a strongly worded message to members this week the Australian Restructuring Insolvency & Turnaround Association (ARITA) took aim at firms who had clearly been operating under the misapprehension that being a member of the national body entitled that member or members to use ARITA’s logo as they saw fit. “While we encourage members to…

Corporates, Social/Professional 21 November 2018

First quarter insolvency figures reveal one big winner

The Grow Advisors figures for the first quarter of the 2018/19 financial year have landed on INO’s desk and what’s most obvious is the grip that Worrells has on the market for creditors voluntary liquidations specifically and the formal appointment market in general. The national mid-tier smashed its rivals for the period from July 1 to September 30, raking in 174 CVLs out of a total…

Deals & Departures, Judgment, Liquidators, Social/Professional 14 November 2018

PBB Advisory moves post-PwC acquisition

An application to the Federal Court seeking to surrender insolvency appointments has shed fresh light on the fate of various PPB Advisory staff and partners following its acquisition by PwC. The judgment of Justice Kathleen Farrell in Theobald, in the matter of Bowesco Pty Ltd (in liq) [2018] FCA 1725 details how Simon Theobald and Mark Robinson recently sought orders to effect their resignations as either official liquidators or…