Top tier independent KordaMentha has lost a work winner with the departure of senior partner Rahul Goyal.
For several weeks the insolvency grape vine has hummed with whispers about a potential move and Goyal confirmed the rumours through his Linked In page, which lists his 10 years and one month at KordaMentha as ending in September 2023.
KordaMentha staff were informed of the move on Tuesday last week in an internal memo from restructuring partner Craig Shepard.
“After 10 years with KordaMentha, Rahul Goyal has made the decision to venture further afield,” Shepard said.
“Rahul joined the firm as an Executive Director in August 2013 with a focus on developing our mid-market offer.
“He was made a Partner in July 2015 and since then has continued to bring consistent engagement opportunities with his successful “Top 10” client approach.
“We wish Rahul the very best in his next endeavour and look forward to keeping in touch.”
The man himself declined to iNO’s requests to explain why he’s quitting one of if not the most successful independent insolvency and restructuring firm in the country.
Goyal’s been good for KordaMentha and KordaMentha’s been good for Goyal. That ends now. And what follows is the laborious process of agreeing on which administrations Goyal will resign from where he’s a joint appointee; obtaining court approval to replace him, notifying creditors and negotiating a dollar figure that compensates him for the pain of removing himself from the flow of fees from those jobs where he was lead appointee and responsible for bringing that appointment to the firm.
A source close to KordaMentha dismissed any suggestion that the decision to part ways involved any form of misconduct and iNO makes no suggestion of wrongdoing.
Goyal came to KordaMentha after a stint at Deloitte which followed 10 years at PKF.
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