Liquidator Anthony Warner could potentially face a hefty payout to former colleague and partner Steve Kugel following a judgment handed down this week by NSW Supreme Court Justice Guy Parker. In the 30,000 plus word judgment of Shazbot Pty Ltd v Warner Capital Pty Ltd [2018] NSWSC 1645 Justice Parker has painted an at times less than flattering picture of Warner in respect of the machinations he…
David John Leigh, former partner of PPB Advisory Queensland has, as foreshadowed by INO last month, pleaded guilty to three charges of fraud in the Brisbane Magistrate’s Court. In a statement yesterday, the Australian Securities and Investments Commission (ASIC) confirmed that Leigh, 56 of Sherwood in Queensland, had entered a plea of guilty and would be committed for sentencing on a date to be fixed….
The takeover of PPB Advisory (PPBA) by PwC might have been declared complete two months ago but for some at least, hostilities persist. In the most recent outbreak PPBA was served with a statutory demand for unpaid draw down by one of the many former senior staffers still holding equity in what is now in effect an incorporated unit trust in wind down. We understand…
From a purely superficial perspective, the most significant takeaway from ARITA’s 25th national conference was the delegate satchel, a cunningly fashioned navy blue holdall which resembled a gym bag but accommodated all the merch fit to pinch from this most sedentary of industry events. From the perspectives of knowledge and of insight, elevating one moment among the many over the two days is not so straightforward….
The most recent Minutes of the meeting of the Queensland Nickel Committee of Inspection (COI) reveal that luring PPB Advisory co-founder Steve Parbery down to Barangaroo has already begun to paying dividends for Ferrier Hodgson. Since Michael Owen resigned as special purpose liquidator (SPL) of Queensland Nickel ahead of moving to PwC as part of the now concluded takeover (first revealed by INO in March…
Eat my spray might be the boast after BPS Recovery secured the Liquidator’s Trophy at this year’s Chartered Accountants ANZ Annual Sailing Regatta hosted by the Cruising Yacht Club of Australia (CYCA) last Thursday. The win, by BPS partner Max Prentice’s Ticket of Leave (ToL), wrenches back the coveted title from Paul Billingham, who had relieved 2016 winner Prentice of the trophy when the CYCA commodore…
David John Leigh, the suspended liquidator who’s alleged to have purloined up to $800,000, could be preparing to enter a guilty plea when he returns to the Brisbane Magistrate’s Court on November 2. In September Leigh, 56, of Sherwood in Brisbane was summonsed to appear on three counts of dishonestly gaining a pecuniary benefit in excess of $100,000 on each count on July 25, 2017,…
There’s an intriguing little backstory to last week’s headline event that saw a judge deny Worrells partner Graeme Beattie the role of liquidator of Bux Global Pty Ltd. Beattie accepted the appointment on October 4 following a referral in September from Jirsch Sutherland partner Daniel Civil. What he didn’t know was that on the same day in the Federal Court in Perth, orders were made appointing Ferrier Hodgson’s…
In what might be a sign of lean times, almost 10 per cent of Australia’s registered liquidator population has applied for a place on the reviewing liquidator panel proposed by ASIC last August. Association of Independent Insolvency Practitioners (AIIP) president and Helm Advisory principal Stephen Hathway said today that the number of applicants was disclosed by ASIC during meetings this week as part of its bi-annual…
With the September Quarter now concluded Stratos Legal has tallied up the insolvency appointments and as usual the results make compelling reading. Yet again Worrells has demonstrated its iron grip on the market for creditors voluntary liquidations (CVLs). The national firm topped the list for CVLs in the three east coast states and in South Australia, leaving the firm well placed to finish 2018 at the…