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…
Vincents’ Nick Combis. Vincents partner Nick Combis has found himself on the wrong side of an adverse costs order after the creditor he was pursuing persuaded a judge that her preferences were protected. In Queensland Quarry Group Pty Ltd (In Liquidation) & Anor v Cosgrove [2019] QDC 26 Combis, in his capacity as liquidator of QQG, sought to retrieve more than $350,000 received by a…
FTI Consulting’s Joanne Dunn has been supplanted by a special purpose liquidator (SPL) after the Commonwealth’s FEG Recovery Unit decided it wanted someone else to investigate possible phoenix transactions involving companies within the Intelara Group (Intelara). Last week in the Federal Court Justice Roger Derrington heard that FEG wanted Perth-based practitioner Jack James appointed SPL of a company known only by its Australian Company Number –…
Liquidator Michael Caspaney may soon head to court to have a funding agreement with FEG ratified after creditors of Queensland construction firm Cullen Group Australia rejected the deal on the basis it would bankroll pursuit of sub-contractors who had received more than $4 million in preference payments. Readers of Insolvency News Online may recall that Caspaney was installed at the first meeting of creditors back…
Robyn Erskine, who last year replaced David Iannuzzi as liquidator of North Shore Property Developments, has failed in a legal bid that would’ve given her more time to challenge a generous seeming compromise entered into by her predecessor. In Erskine v 72-74 Gordon Crescent Lane Cove Pty Ltd, in the matter of North Shore Property Developments Pty Ltd (in liq) [2018] FCA 109 we learn that Iannuzzi…
dVT Group’s Seulen McCallum and Riad Tayeh will likely soon receive communications from Giles Woodgate after the NSW Supreme Court of Justice Fabian Gleeson last week approved Woodgate’s appointment as special purpose liquidator (SPL) of Hemisphere Technologies Pty Ltd (HT). McCallum and Tayeh were appointed liquidators of Hemisphere – which changed its name to ACN 152 546 453 Pty Ltd on December 23, 2016 – in January 2017. Their…
A resolution put to a meeting of creditors by an owners corporation seeking the removal of Henry McKenna as liquidator of Iris Diversified Property Pty Ltd has been confirmed by the NSW Supreme Court this week. On Tuesday, June 6, 218 Justice Ashley Black ordered that the soon-to-be ex-Jirsch Sutherland partner be replaced by O’Brien Palmer’s Chris Palmer and Liam Bailey and that the incoming appointees’ costs by…
Having identified more than $60 million in potential recoveries, it’s no surprise that the liquidators of Australian Institute of Professional Education Pty Ltd (AIPE) are battling on various fronts in both attack and defensive modes. Ferrier Hodgson’s (FH) Morgan Kelly, George Georges and Ryan Eagle were appointed by way of a voluntary winding up under section 491 0f the Corporations Act on 6 October 2016. Since then…
As PPB Advisory’s Glenn Livingstone and Steve Parbery look on in their capacity as provisional liquidators of Synep Pty Ltd, one of the men accused of involvement in Australia’s largest company tax fraud has shown himself to be an optimist if nothing else, having commenced legal action in the Federal Court against the provider of his directors and officers (D&O) insurance policy. Jay Onley, who…
You win some you lose some it seems with Jirsch Sutherland’s sibling practitioners Sule Arnautovic and Amanda Young scooping up a gig as special purpose liquidators (SPLs) of Umberto Pty Ltd, the former owner of Candelori’s Restaurant, after SV Partners’ Shumit Banerjee and Jason Porter apparently found aspects of the proposed funding agreement not to their taste. The four practitioner’s names came up in proceedings in the Federal Court…