After at least a decade of questionable litigation, incessant creditor criticism and a failed ASIC investigation, former Bentleys Corporate Recovery duo Bill Fletcher and Kate Barnet probably thought the tribulations of the Octaviar liquidation were behind them.
Their replacement Mark Robinson and his backers have other ideas.
In recent months the Fort Restructuring principal has had issued a flurry of notices to produce to multiple parties linked to the failed MFS/Octaviar property group going all the way back to 2009 when Barnet and Fletcher replaced Deloitte duo John Greig and Nicholas Harwood at the behest of major creditor the Public Trustee of Queensland.
In response documents have been produced by Bentleys, Norton Rose (which swallowed Barnett and Fletchers’ lawyers Henry Davis York), Thomson Geer and ASIC.
In addition to the production notices Robinson has also had issued to Barnet, Fletcher and former Bentleys’ director John Whittle summonses for public examination, currently scheduled to take place late in May.
When contacted this week Robinson, who was appointed liquidator in November 2023, refused to comment and the court record doesn’t indicate that any claims have been formalised.
In a text reply to iNO Barnet said the matter is about documents but given what the court orders so far reveal, this is about fishing.
Robinson for example is seeking transcripts of ASIC interviews with Fletcher, Barnet and Whittle.
He also wants a copy of any “decision issued by the committee” convened to consider the show cause notice issued to Barnet and Fletcher in July 2020, though the committee chose not to recommend that its decision be made public and said only that it was not satisfied that any disciplinary action was warranted.
Also on Robinson’s fishing list are any insurance policies Bentleys held during the relevant period, which commenced on June 30, 2010.
Who is funding Robinson is not clear. The committees of Inspection (COI) of Octviar Limited (OL) and Octaviar Administration Pty Ltd (OAPL) comprise ex-Challenger boss Stuart Terry (who sat on the original COI) and Alvarez & Marsal’s Head of Corporate Finance & Debt John Nestel.
We asked Nestel if reports that one of his family companies holds Octaviar debt were accurate but no response was forthcoming prior to publication.
Further reading:
Seize the pay! Liquidators exonerated as ASIC fails
Octaviar liquidators bill $22 mill as Fortress claims settled
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