Liquidator Peter Amos (L) leaving the NSW Supreme court with his lawyer Keiran Breckenridge. There were awkward moments in the witness box for Peter Amos last week as he responded to questioning about his time as voluntary administrator (VA) of All City Recycling. Amos got the gig as VA in September 2018 but by December had been replaced upon the application of a creditor. The…
Deloitte’s Neil Cussen. Ex-Deloitte Canberra partner Eddie Senatore. Those familiar with the decision of the Federal Court in Fair Work Ombudsman v Foot & Thai Massage Pty Ltd (in liquidation) [2019] FCA 1601 will know that it has some interesting implications for insolvency practitioners in terms of what claims are and are not extinguished by a DoCA, as well providing lurid and engaging details in…
Mackay Goodwin Director Grahame Ward. Image courtesy Mackay Goodwin. Internet advertising certainly generates leads but as Mackay Goodwin’s Grahame Ward discovered, leads can come with strings attached. Ward was appointed voluntary administrator (VA) of PostNet Australia Pty Ltd back on June 3 by resolution of sole director Robyn Lau. Ward’s DIRRI of June 4, 2019 reveals the appointment came via the website of the Mackay…
Chifley Advisory’s Gavin Moss When an insolvency practitioner accepts an appointment as voluntary administrator (VA) less than 24 hours before a winding up application is due to be heard, a casual observer might wonder what’s afoot. Yesterday iNO was moved to ponder just such whilst reading In the matter of Edifice Australia Pty Limited [2019] NSWSC 1215. Chifley Advisory’s Gavin Moss is the practitioner concerned…
Bankrupt IP Sam Henderson. The bankrupting of a former insolvency firm partner who’s worked at Jirsch Sutherland and Cor Cordis has triggered a wave of appointments, some of which have subsequently been overturned by the ATO. Samuel Henderson, who left Jirsch Sutherland in 2013 and then spent time at Cor Cordis before going out on his own, was bankrupted on Thursday, August 29, 2019 on…
Squire Patton Boggs’ Amanda Banton. An interesting stoush has broken out between Arrium deed administrators (DAs) KordaMentha and Arrium shareholders seeking to publicly examine former director Colin Galbraith. Back in May a Registrar of the NSW Supreme Court issued an examination summons to Galbraith on the application of two shareholders represented by Amanda Banton from Squire Patton Boggs (SPB). Banton’s involvement indicates there’s likely a…
Balance Insolvency principal Tim Cook. An appeal against a judgment that went the way of FTI Consulting’s John Park and Kelly-Anne Trenfield kicked off in the Federal Court yesterday and there’s plenty to ponder as it pertains to Citadel Finance Corporation (CFC) and its labour hire subsidiary Action Scaffolding & Rigging Pty Limited (AS&R). A financier of its own operating entities, CFC is the appellant…
Helm Advisory’s Stephen Hathway. Veritas Advisory principal David Iannuzzi. When it rains it pours the saying goes and it’s certainly bucketing down in the vicinity of David Nicholas Iannuzzi. As reported previously, the embattled insolvency practitioner is awaiting a judge’s ruling on orders which could see his registration as a liquidator cancelled. Those orders – to which Iannuzzi has consented – also allow for the…
$400k in funding. KPMG’s Glenn Livingstone. KPMG’s Glenn Livingstone has snatched a liquidation from a voluntary administrator (VA) after a court refused to adjourn a hearing of an application to wind up special purpose property developer Cresco Opus Fund No. 4 Pty Ltd (Cresco 4). Cresco 4 was set up to develop the Ellsworth residential development at Turramurra. Despite making a stonking profit – the…
Glenn Livingstone. Image courtesy Ferrier Hodgson. In the wake of the NSW Supreme Court’s recent refusal of an application seeking to replace incumbent liquidators comes another such attempt involving a builder feeling bilked by a developer with an insolvent SPV. The practitioner in the middle this time is Adam Farnsworth, who as an aside recently parted company with Adam Shepard to form Farnsworth Carson with…