VA’s & DoCA’s

ASIC didn’t get the memo

O’Brien Palmer’s Daniel Frisken. Hall Chadwick partner Sule Arnautovic. (Image: Hall Chadwick) As iNO readers are well aware, what the official ASIC record shows and what actually is are often not immediately reconciled. Up until Tuesday this week, the ASIC companies database listed property developer and aspiring mining magnate Ibrahim Chambour as a director of ICA Mining, along with one Anthony Ford. But when we…


EY trio updates Pindan DIRRI after ASIC queries

EY’s Sam Freeman. EY Partner Vince Smith. There’s been plenty of comment about the decision by a trio of EY restructuring partners to consent to appointments as voluntary administrators (VAs) of failed Perth-based construction group Pindan. Some or other part of EY has spent plenty of time in Pindan’s plethora of pockets these last few years and Pindan’s parent has also engaged EY to sniff…


Liquidator hands failed mining ambitions to old boss

O’Brien Palmer’s Daniel Frisken. (Image: O’Brien Palmer) Hall Chadwick partner Sule Arnautovic. (Image: Hall Chadwick) Everybody wants to be an iron ore magnate these days but liquidator Daniel Frisken’s foray into the mining and minerals game has come unstuck with the placing into voluntary administration (VA) of ICA Mining, a company which had until recently purported to be advancing the resurrection of the old Peko…


Validity issues stalk Adaman VAs

Cor Cordis partner Jeremy Nipps. Cor Cordis partner Barry Wight. Jeremy Nipps and Barry Wight are likely enjoying getting their teeth into an administration of the scale of troubled gold miner Adaman Resources and that includes coping with challenges to the validity of their appointment as well as dealing with assertive creditors seeking intel and assertive directors asserting privilege over that intel. As is detailed…


Creditors set to force ousted VAs to court for fees

Hall Chadwick’s Richard Lawrence. Hall Chadwick’s Richard Albarran. Hall Chadwick’s pair of Richards look set for a disagreeable time chasing upwards of three quarters of a million in fees after being ousted as voluntary administrators (VAs) of Bluechain Pty Ltd. Messrs Albarran and Lawrence were turfed out by an overwhelming majority of creditors at the reconvened first meeting of Bluechain back on May 18, 20…


Court okays administrator’s “truncated liquidation”

McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Wexted Advisors’ Joe Hayes. There cannot be too many insolvency practitioners who first worked on an external administration as a graduate accountant and almost 20 years later are preparing to deregister the same entity as partner. Kathy Sozou can lay claim to imminent inclusion in this elite group. The revelation of the McGrathNicol partner’s trauma unit-to-crematorium involvement in Black…


EY’s pre-Pindan VA involvement a sight to behold

EY’s Sam Freeman. Never let more than $340,000 worth of pre-appointment work influence concepts like the apprehension of independence seems to be the approach adopted by the trio of EY IPs who recently consented to act as voluntary administrators (VAs) of the Pindan property and asset management group. This at least is iNO’s opinion arrived at after reading the DIRRI distributed by Sam Freeman, Colby…


VAs eleventh hour bid to adjourn too long a shot

Accepting an appointment as a voluntary administrator (VA) late on a Friday knowing you’ll have to apply to adjourn a winding up application being heard the following Monday might be considered more than usually ambitious. Jirsch Sutherland’s Trent Devine, Bradd Morelli and Andrew Spring however had good reason to feel confident last week when they agreed to take on ASX-listed plastics-to-fuels developer Integrated Green Energy…


Language of a colourful kind as rivals clash

Cor Cordis NSW partner Ozem Kassem. Image courtesy Cor Cordis. Daniel Cvitanovic. Image courtesy Worrells. Incendiary language, accusations of insufficient investigations and insinuations around related party proofs – according to its Minutes, the March 10, 2021 meeting of creditors of Ayash Pty Ltd had it all. Steering the meeting towards a vote on a deed of company arrangement (DoCA) that day was Worrells partner Daniel…


Hall Chadwick duo’s link to Bluechain broken

Hall Chadwick’s Richard Lawrence. JP Downey & Co’s Jim Downey. Hall Chadwick’s Richard Albarran and Richard Lawrence will be fuming after they were dumped this week by creditors of Bluechain Pty Ltd in favour of JP Downey & Co’s Jim Downey. Up until Tuesday the Hall Chadwick pair had been in the driver’s seat. They were appointed provisional liquidators of Bluechain in February following an…