It was just before the May 21, 2018 annual meeting of creditors of failed builder SX Projects that incumbent liquidator Geoff Reidy was approached by several individuals wanting a quiet word. Intrigued, Reidy agreed to the impromptu chat with the men, who one of INO’s sources described as being of South Pacific islander appearance. Once away from prying ears and eyes however, it became clear that they weren’t…
Whilst INO’s not intentionally focussing on Veritas Advisory, the firm certainly seems to have its cup full in recent times and this week we came across the interesting case of Peter O’Brien Constructions Pty Ltd, which recently passed from the control of Veritas principal Steve Naidenov to the RSM duo of Frank Lo Pilato and Jonathan Colbran. One of the most notable elements of this matter relates…
Here’s an unusual situation – application has been made to wind up Gatto Corporate Solutions but the lawyer representing the petitioning creditor has no insolvency practitioner to recommend. Usually a lawyer can’t propose an experienced and licensed practitioner quick enough. After all, he or she knows that putting forward their preferred practitioner will likely to lead to work flowing back their way. But in the…
With the dissolving of the PPB Advisory (PPBA) partnership imminent, rumours are that draw downs on the PPBA partnership’s loan facility are suspended as management sets about repaying the firm’s working capital facilities to PPBA’s bank, ANZ ahead of the August 1 deadline for the completion of PwC’s acquisition approaches. Several sources who spoke to INO confirmed hearing that distributions to partners had been frozen. One…
Stratos Legal’s latest interim insolvency appointments rankings show the firms that were leading as at June 30 2017 are mostly maintaining their dominance in 2018. When it comes to creditors voluntary liquidations (CVLs), Worrells is leading the pack nationally thanks to its preeminence in Queensland and Victoria. It also performed strongly in New South Wales, ranking second only to Dominic Calabretta’s Mackay Goodwin which was NSW’s CVL front…
In typical news breaking corespondent style, INO is off to Cartagena as they would’ve said in the classics if the old masters and mistresses had been aware of her charms. As a result publication of the INO bi-weekly newsletter will be temporarily suspended. The short trip to Colombia’s famed Caribbean Coast happily coincides with the World Cup final though INO must endure a wedding before…
When the most senior officer responsible for the regulation of registered liquidators took to the podium at the Association of Independent Insolvency Practitioners (AIIP) inaugural conference last Friday afternoon, your correspondent was unable to detect any sign of inner turmoil, and to some that might’ve seemed odd. Thea Eszenyi after all is a registered liquidator herself according to the most recent list of practitioners published by…
ADVERTORIAL SellersMuldoonBenton is now SMB Advisory (and we have two new partners too). It is with much pleasure and excitement that the Partners of SMB Advisory not only launch the new name and logo but also announce the appointment of Andrew MacNeill and Kristen Beadle as partners from 1 July 2018. The boutique insolvency and restructuring firm with offices in Melbourne, Brisbane, Geelong and Hobart…
Amid near-zero nightly temperatures and the final parliamentary sitting week before the winter break the inaugural conference of the Association of Independent Insolvency Practitioners (AIIP) commenced yesterday and the mood for change was palpable. Change it seems, is what’s needed, and in the art deco halls of the Hyatt Hotel in Canberra, cases for radical change were put forward. During a Future of Insolvency panel…
Jirsch Sutherland announced this week that Sule Arnautovic will hand over the baton to colleague Brad Morelli after 10 years as national managing partner. In a news alert distributed to Jirsch subscribers on Wednesday afternoon, Jirsch said Morelli would take over from Arnautovic on July 1, 2018. “I’m excited about taking the helm of the firm,” Morelli is reported as saying. “We will also continue to provide…