Hall Chadwick alumni at loggerheads over MVL

Hall Chadwick
I&R Advisory’s David Ingram.
Hall Chadwick
HH Consulting’s Hakki Hassan.

Collegiate bonds are in short supply among certain former Hall Chadwick personnel at the moment, with a spat exploding in the Federal Court this month over control of an MVL.

On May 14, Hakki Hassan, a former senior manager at the colourful mid-tier filed an originating process which seeks among things the replacement of ex-Hall Chadwick partners David Ingram and David Ross as the liquidators via members voluntary liquidation of MCA Tag No.1 Pty Ltd (the Company).

The matter came before Justice David Yates on Monday who asked Level 22 Chambers’ James Mack for the plaintiff what Hassan was seeking.

Hall Chadwick
I&R Advisory’s David Ross.

“Our case is that the present liquidators should not be entitled to remain in office,” Mack said, adding that the two directors who resolved to voluntarily wind up the Company and appoint Ingram and Ross themselves only became directors on April 10.

But Hassan is also seeking to have the validity of the directors’ appointments impugned.

“You want a declaration that the resolution appointing them is invalid?” the judge said.

“Yes” Mack replied.

At issue is the timing of the appointments. ASIC records show Hassan was appointed on April 23 while the liquidators’ appointors – Juan Pablo Reyes Franco, 23 of Merrylands and Andreas David Rodriguez Cardenas, 34, also of Merrylands – appear to have been appointed on April 10.

Two former director of the Company – David Conway, 67 of Belrose and John Tomaras, 52 of Breakfast Point, resigned only shortly before the director appointments now at the heart of the replacement proceedings.

Curiously though, a change of company details form lodged with ASIC indicates that the appointments of Messrs Franco and Cardenas ceased on April 10 and that their shareholdings in the Company were also reduced to zero on the same date.

The court heard that the Company is the trustee of a trust, assets of which are the subject of freezing orders made in separate proceedings in the NSW Supreme Court.

The orders effectively prevent certain individuals from dealing in real property or operating certain bank accounts.

References to trust property were also of relevance to lawyer Andrew Fleming in his capacity as administrator of a deceased estate.

Represented by 11 Wentworth’s newly-minted inductee Zoe Graus, Fleming was said to be eager to “have some oversight of the proceedings”.

The contest returns to the colosseum on May 28.

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