Social/Professional

KPMG duo edge out rival VAs, become ProvLiqs

Romanis Cant’s Tony Cant. KPMG partner Robyn Duggan. If the dearth of appointments presently bedevilling liquidators required any illustration then an account of the competition for appointments to the Pages Events Group and how it ended in ProvLiqs is in order. Last Friday the NSW Supreme court made orders installing KPMG’s Robyn Duggan and Peter Gothard as provisional liquidators (ProvLiqs) of Pages Equipment Holdings Pty…


Octaviar liquidators at war with COI over fees

KPMG’s Will Colwell. The liquidators of the failed Octaviar Group have been forced to seek court approval for remuneration dating back to 2018 after falling out spectacularly with the Octaviar Committee of Inspection (COI). Bill Fletcher of Bentleys and Kate Barnet of Olvera Advisors applied in March this year for orders approving $358,731.85 (plus GST) in remuneration for work done from 1 July 2018 to…


Parbery joins old mates at Duff & Phelps

From KPMG to Duff & Phelps. Steve Parbery. Insolvency industry luminary Steve Parbery has rejoined former PPB Advisory colleagues at Duff & Phelps Kroll, ending his stint at KPMG which began when KPMG acquired Ferrier Hodgson in March 2019. Joking that he had made more moves in two years than the previous 30, Parbery said yesterday that as a senior advisor with a position on…


Conflict concern over ARITA director referral

Katherine Barnet leaving the Supreme Court Photo: iNO Images Liquidator Kate Barnet has taken leave of absence from her role as a director of the board of the Australian Restructuring, Insolvency & Turnaround Association (ARITA) following her referral to a s40-45 disciplinary committee by ASIC. As was first reported last week in Insolvency News Online (iNO) Barnet and former Bentleys colleague Bill Fletcher were referred…


AFP arrests uncover a most helpful director

The AFP arrests this week in respect of yet another Plutus Payroll-style tax evasion scheme prompted iNO to consider, not for the first time, what aspects if any of these recurring scams are facilitated by complicit insolvency practitioners, a negligent regulator or a combination of both. Looking at the names of those arrested, it wasn’t long before our investigations led us instead to a particular…


Octaviar Liquidators referred to committee

Octaviar liquidator Kate Barnet. Octaviar liquidator Bill Fletcher. Octaviar liquidators Kate Barnett and Bill Fletcher have been referred to a disciplinary committee under section two of the Insolvency Practice Schedule by the Australian Securities and Investments Commission (ASIC). Following the issuing of a show cause notice, the corporate regulator published notice of the referral to a schedule two committee last week. Barnett declined to comment…


Judgment increases chance of pursuit of VA, receiver

Hamilton Murphy’s Stephen Dixon. Worrells’ Ivan Glavas. The likelihood that Hamilton Murphy’s Steve Dixon and Worrells’ Ivan Glavas could come in for some unwelcome attention has edged a little closer to reality following the latest decision of Justice Kevin Lyons of the Supreme Court of Victoria in the unfolding saga that is El-Saafin & Anor v Franek & Ors (No 4) [2020] VSC 389. Dixon…


Struck off liquidator facing criminal charges

Amanda Young. Struck off liquidator Amanda Young could be gaoled for up to 10 years following the commencement of criminal proceedings relating to almost $240,000 the 40 year old accountant is alleged to have misappropriated whilst working at mid-tier insolvency firm Jirsch Sutherland. Young was issued a summons in respect of the alleged criminal offences in April this year and the matter came before a…


Uncertain times for IPs no barrier for some

SV Partners no more! Liquidator Shumit Bannerjee. The current flat lining of insolvency appointments would you think give ambitious IPs eager to strike out on their own cause to reconsider. Not necessarily so. Take SV Partners’ director Shumit Bannerjee for example, or more correctly, former SV Partners’ director. Bannerjee it turns out has taken the bold – or perhaps prescient step – of leaving the…