KordaMentha partner exonerated by ARITA

Exonerated by ARITA – KordaMentha partner Rahul Goyal.

It didn’t take long for ARITA to dismiss the complaints made about member and KordaMentha partner Rahul Goyal.

As we reported last week in Tiaro Coal Creditors Gunning For Goyal various individuals connected to Tiaro Coal’s major creditor the Hudson Investment Group complained to ARITA about Goyal’s conduct on the administration.

They alleged he was in cahoots with a major creditor with which KordaMentha has a referral relationship and that he’d ignored an offer to buy Tiaro’s prize stake in Paragon Coal which would’ve seen creditors paid 100 cents in the dollar.

Goyal didn’t engage with the allegations when contacted but was happy to advise this week that “Whilst it is not appropriate to discuss the topic due to ongoing litigation, I can confirm that ARITA have reviewed the complaint and they have confirmed that they have closed its file in this matter.”

Other than confirming as much when contacted, ARITA declined to comment but its not hard to understand why the allegations would’ve needed to be treated with some skepticism.

Those making them are among the parties Goyal is suing for breaches of director’s duties in his capacity as liquidator of Tiaro Coal.

About the Author

Peter Gosnell
Insolvency News Online illuminates the practice of insolvency Australia-wide, highlighting the triumphs and travails of the nation’s registered practitioners and the accounting and legal professionals who work with them. INO is produced by Peter Gosnell, former business editor and senior business reporter at The Daily Telegraph newspaper. During a decade-long career, your correspondent reported on such notable corporate collapses as HIH, One.Tel, Westpoint and Fincorp as well as some of the nation's highest profile bankruptcies and the investigations and prosecutions arising from Australia's most notorious instances of white-collar crime.

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