Swim Loops VA Glenn O’Kearney. Queensland practitioner Glenn O’Kearney appears to have been victim of unfortunate timing in relation to his 439A Report on Swim Loops Pty Ltd. The GT Advisory principal distributed his report to creditors on June 12, recommending that creditors accept a deed of company arrangement (DoCA) being proposed by his appointor, Swim Loops founder and director Ian Campbell. Unfortunately, earlier the…
Ferrier Hodgson’s Martin Jones. Ferrier Hodgson’s Andrew Smith. It’s not often INO uncovers a story about insolvency practitioners that involves unauthorised boar semen from foreign parts but the recent hand over by Ferrier Hodgson of the GD Pork Pty Ltd administration to FTI Consulting provides such an opportunity. Not that the yarn is about unauthorised boar semen illegally imported. It’s about Ferriers’ partners Martin Jones…
Pitcher Partners WA chief Bryan Hughes. The Supreme Court of West Australia has ruled that an appointment of an administrator is still valid even if not all the directors of the insolvent entity could have made a determination about solvency at the time. The ruling was made in Bryan Kevin Hughes as joint and several liquidators of Traditional Therapy Clinics Limited (In liq) [2019] WASC…
Deloitte’s Sal Algeri. Deloitte’s Glen Kanevsky. The Deloitte partners appointed voluntary administrators (VAs) of AxsessToday Limited have had to lodge a detailed Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) thanks to their firm’s intimate involvement with the the insolvent entity for more than six closely engaged and lucrative pre-appointment months. AxsessToday, an ASX-listed equipment leasing and finance group controlled by Melbourne’s wealthy Meydan family,…
KordaMentha’s Robert Hutson KordaMentha’s Scott Langdon There might be more than a degree of strategising behind the appointment of KordaMentha’s Scott Langdon and Robert Hutson as special purpose administrators (SPAs) of Northern Energy Corporation (NEC) and Colton Coal (CC). Both companies are subsidiaries of ASX-listed New Hope Corporation and details of the appointment and the circumstances leading up to it are contained in the recent…
Onterran director Lachlan McIntosh. Clout & Associates’ Trish Talty. You’d hope it’s not too often that old colleagues in the insolvency game are reunited by an event of insolvency but that is what has happened in the case of listed property developer Onterran. On March 11, 2019 Onterran announced that its directors had placed the company into the hands of voluntary administrators, namely Trish Talty…
Chan & Naylor’s John Kukulovski. Liquidator John Kukulovski is resisting an application for an order that his fees and expenses be reviewed after a court terminated the Deed of Company Arrangement (DoCA) he was appointed to administer and ordered that any winding up of Mt Hira Investments Pty Ltd be stayed. Kukulovski was appointed voluntary administrator (VA) of Mt Hira on October 3 2018 and…
Worrells’ Christopher Darin. Despite being appointed voluntary administrator (VA) by a very new director very shortly before the scheduled hearing of a winding up application, Worrells’ Chris Darin has succeeded in averting the liquidation of Bevex Distribution, at least for now. In the NSW Supreme Court yesterday Registrar Leonie Walton ruled that the fruit juice supplier’s creditors should vote on whether or not to accept…
BRI Ferrier’s Peter Krejci. CORRECTION: INO’s coverage last week may have led readers astray in conveying the impression that BRI Ferrier’s Peter Krejci and Brian Silvia were replaced as administrators of GR Capital. They weren’t. They refused to recommend a DoCA proposed by the director and related interests. Sufficient numbers of creditors however insisted it be accepted and obtained a consent from SV Partners’ Jason…
Worrells Christopher Darin. Worrells’ Chris Darin will shortly reveal to creditors of Bevex Distribution whether or not a deed of company arrangement (DoCA) has been put together by the company’s former director, the exceedingly colourful Richard Poole. Some readers may recall the various ICAC inquiries that led to the incarceration for misconduct in public office of Labor figure Eddie Obeid in 2016. While Poole was never…