McGrathNicol’s Anthony Connelly. McGrathNicol’s Jamie Harris. You don’t have to delve too deeply into Justice John Griffith’s August 17 ruling on a failed application to appoint a reviewing liquidator to conclude that the incumbent appointees probably didn’t lost much sleep worrying about what any RevLiq might’ve found in respect of their sale of the assets of Battery Minerals Resources (BMR). McGrathNicol’s Anthony Connelly and Jamie…
Grant Thornton’s Phil Campbell-Wilson. Long shots in the insolvency caper can be costly. Just ask the two Grant Thornton partners who sought the adjournment of a hearing of a winding up application on the day the winding up application was potentially to be heard. The reason for this heroic and 59th minute of an 11th hour intervention was simple. Phil Cambell-Wilson and John McInerney had…
Aston Chace’s Vincent Pirina. Aston Chace co-founder Steve Naidenov. Sometimes it doesn’t matter how well an insolvency practitioner does his or her job. If a creditor wants them out, they’ll find something in an appointee’s conduct to utilise as a basis to attack. Like a settlement that appears generous. In the case of Aston Chace partners Vincent Pirina and Steve Naidenov, the deed administrators of…
KPMG’s Will Colwell. KPMG’s Tim Michael. When a secured creditor funding deed administrators gets told that the $250,000 it handed over to fund a section 444GA application is insufficient because the deed administrators’ costs have absorbed it, well, you can imagine that the relationship might become a little strained. Certainly it could be expected that an at least temporary chill descended in respect of exchanges…
iNO Priority Cor Cordis partner Barry Wight. Cor Cordis partner Rachel Burdett. It may be an unspoken maxim that fee approvals coming from creditors are the best approvals but if there is an example of an exception proving a rule superior to that which was recently granted to a pair of Cor Cordis partners iNO would like to hear of it. The occasion for this…
McGrathNicol Partner Kathy Sozou. Image McGrathNicol. Federal Court judge Michael Lee might have refused Westpac’s bid to have a third McGrathNicol partner appointed as a provisional liquidator to three Forum corporate entities on the basis that with charge out rates of $847 per hour two is sufficient, but as we all know, resistance is futile. When creditors of the 25 or so Forum group companies…
Hall Chadwick’s Richard Albarran. Hall Chadwick’s Richard Lawrence. A judge has added a lick of Bitrex to the unpalatable pill Richard Albarran and Richard Lawrence are being forced to stomach after creditors removed them as voluntary administers (VAs) of Bluechain Pty Ltd. Last Thursday Justice Jim Delaney of the Supreme Court of Victoria ordered that the Hall Chadwick pair pay the costs of an application…
Grant Thornton’s Phil Campbell-Wilson. On the Sabbath the director gaveth, and on the Monday a judge tooketh away, though not before querying what he perceived as a lack of “professional skepticism” exhibited by one of Grant Thornton’s top insolvency and restructuring partners. The occasion was an application to adjourn a winding up hearing launched by the very recently appointed voluntary administrators (VAs) of Ming Tian…
Alleged fraudster Bill Papas is COVID positive and languishing in Athens a court heard yesterday, which might explain why Westpac Bank – which would love to ask the Forum Group founder about its missing $300 million – spent much of the afternoon monstering Domenic Calabretta and two of his Mackay Goodwin colleagues in regard to their role as voluntary administrators (VA) of 30 Forum Group entities.
O’Brien Palmer’s Daniel Frisken. What’s in a name? Well when you’re a registered liquidator authorised to accept formal appointments from directors there’s plenty, particularly when the sole director doing the appointing has four names and there’s a possibility he might be an undischarged bankrupt. The RegLiq in question in this intriguing case is O’Brien Palmer partner Daniel Frisken, who was appointed administrator of builder NPH…