FEG chasing ex-PPB orphan over Reed millions?

Ex Reed Constructions liquidator Mark Robinson
Ex-Reed Constructions Australia liquidator Mark “Robbo” Robinson. Image: www.hiredgun.com.au

INO’s antennae have of late been swaying to the faint but unmistakable sounds of sensitive negotiations.

Sensitive because they involve the FEG Recovery Unit, the current liquidators of Reed Constructions Australia and possibly Reed’s former liquidator Mark “Robbo” Robinson.

Also sensitive because we can’t get anyone to divulge much about them, though no one contacted has sought to deny their existence either.

And we say “possibly” in regards to Robbo because he was unwilling to assist with INO’s inquiries when we managed to get him on the phone yesterday.

Given our inquiries seek to confirm whether or not FEG is targeting him personally for a slice or possibly all of the $3 million plus it tipped into Reed to bail out the company’s employees, Robbo’s reticence was understandable.

What the former PPB Advisory favourite son orphaned after the PwC takeover was happy to confirm was that he’d finally found a home, somewhat ironically with dVT Group, an outfit not unfamiliar with disputes with FEG over refunds and the endlessly vexed question of priority.

When we inquired about FEG’s claims and whether the Commonwealth was gunning for him Robbo referred us to Chris Hill and Daniel Walley, the ex-PPB Advisory partners who replaced Robbo and Simon Theobald as liquidators of Reed after the former moved to PwC last year.

Calls and messages to Walley’s mobile were not returned by deadline.

Our mail is that things are close to being finalised one way or another, with the most likely outcomes being either a confidential settlement or open lawfare.

Hill and Walley’s advice is we understand top shelf, coming as it is from Corrs’ national of litigation Mark Wilks.

Do we detect the melodious riff of compromise?

Further reading:

Robinson’s Reed Blitz Could Attract FEG Attention

Robinson Defends Recovery Position On Reed

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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