O’Brien Palmer’s Chris Palmer. There are times when one is compelled to ask what motivates a liquidator to pursue an 11th hour payment to a creditor when the sought after sum, once costs are deducted, amounts to sixth fifths of bugger all? For iNO such a time came on Tuesday as we read the judgement of Justice Fabian Gleeson In the matter of Skypac Aviation…
FTI Consulting’s Joanne Dunn. FTI Consulting’s John Park. It might not deliver the impact of a best seller like The Bourne Identity but around FTI Consulting QLD’s Central Plaza HQ at least we reckon The Busby Affidavit is quite the page turner. Contained within this innocuously monikered document lies nothing less than a bid by the Deputy Commissioner of Taxation’s (DCoT) to relieve FTI’s Joanne…
Pitcher Partners’ Bryan Hughes. Pitcher Partners’ Perth office nabob Bryan Hughes has come in for some stick in a judgment of the Supreme Court of Western Australia, which has rejected Hughes’ multiple claims of voidable transactions in respect of stricken developer Westgem. In what may turn out to be a costly decision for Hughes’ litigation funder IMF, Justice Paul Tottle said yesterday that the basis…
Grant Thornton’s Phil Campbell-Wilson. Grant Thornton’s Matt Byrnes. Jirsch Sutherland partner Malcolm Howell has branded his removal as liquidator of AFX Group Proprietary Limited “a blatant abuse of the new insolvency laws” after he was replaced at a meeting of creditors last Friday by Grant Thornton’s Matt Byrnes and Phil Campbell-Wilson. The meeting had been convened in accordance with ss 90-15(1) and 90-21(2) of the…
Hall Chadwick’s Richard Lawrence. Tauro Capital and Apollo League director Simon Ward. Hall Chadwick Melbourne partner Richard Lawrence will refrain from exercising his casting vote in the event there is a deadlock between creditors prepared to accept Tauro Capital director Simon Ward’s compromise offer and those who want his head. In a report issued to Tauro creditors this week Lawrence said that as a consequence…
Hall Chadwick’s Ginette Muller. Grant Thornton’s Mike McCann. iNO hears costs north of $50,000 are likely to be ordered against Hall Chadwick’s Ginette Muller and Marcus Watters after they took a tilt in the Supreme court of Queensland at Grant Thornton’s Mike McCann and Said Jahani over a rejected proof of debt. Back in 2018 the Hall Chadwick pair, as liquidators of Rimfire Constructions Pty…
PCI Partners’ Stephen Michell. Leaving it till the last day to seek an extension of time in which to consider bringing voidable transaction proceedings has rebounded badly on Melbourne-based liquidator Stephen Michell. Last week the parties who would’ve been the subject of those voidable transaction proceedings – assuming the PCI Partners’ principal launched them – won an appeal in the Supreme Court of Victoria which…
Deloitte’s Tim Norman. Plutus Payroll Australia (PPA) liquidators Deloitte’s Tim Norman and Sal Algeri seem to be inching closer to a point when they can apply the blowtorch to various individuals connected with this most notorious of tax-skimming scandals but given the assetless state of the entities to which they are appointed, getting there is costing a bomb. In the NSW Supreme court yesterday, lawyers…
Bankrupt IP Sam Henderson. It probably goes without saying that when a once successful insolvency practitioner is bankrupted and companies he’s been associated with collapse, then the subsequent insolvency appointees might uncover issues of interest. In the case of the recently bankrupted Sam Henderson – who sources insist held a partner-equating status when he was at Jirsch Sutherland – liquidators John McInerney and Phil Campbell-Wilson…
Vincents’ Nick Combis. Vincents’ Nick Combis has been successful in appealing a decision of the District Court of Queensland requiring him to pay $150k in costs after he had sought to claw back more than $350,000 for creditors of Queensland Quarry Group. The ruling last week in Queensland Quarry Group Pty Ltd (in liq) & Anor v Cosgrove [2019] QCA 220 (18 October 2019) means…