Richard Albarran.
Peter Krejci.
Maybe it’s because they’ve been without funds but a recent judgment of the Federal Court has highlighted how important it is for insolvency practitioners to be in with the ATO.
“They’re such fucking idiots, they haven’t even got the company where they hid all the money”. Sam Peter Cassaniti.
As can be seen by recent developments Hall Chadwick‘s Richard Albarran and Kathleen Vouris are out, at least in respect of their appointments to companies linked to the investigations of BRI Ferrier’s Peter Krejci and Jonathan Keenan who are unravelling a tax avoidance scheme allegedly orchestrated by Sydney-based accountant and litigation consultant Sam Cassaniti.
Yesterday Albarran and Vouris were forced to relinquish their appointments as liquidators of Fraser Holdings (NSW) Pty Ltd after Krejci and Keenan, backed by ATO money, persuaded them to concede.
Fraser Holdings is one of multiple corporate defendants in proceedings commenced by Krejci and Keenan last month and detailed in Krejci (liquidator) v Panella, in the matter of Richmond Lifts Pty Ltd (in liq) [2025] FCA 151, the reasons for which were published on Monday by Justice Elizabeth Cheeseman.
The loss of the Fraser Holdings liquidation follows Albarran and Vouris’s ouster in December as administrators of Financial Advisory Australia, another company linked to the alleged schemes and their architect.
Krejci took over as administrator on December 17, eight days after Albarran and Vouris accepted VA appointments referred to them by Webb Henderson partner Rob Webb, who’s been representing the director Teddy Panella and Cassaniti in the proceedings in the Federal Court.
A glance at the Minutes for the Financial Advisory Australia creditors meetings also shows creditors – of which the ATO is predominant – in January rejected a proposed DoCA which included the condition that the Deputy Commissioner of Taxation (DCoT) relinquish all claims against the director or any of those identified as possible shadow directors.
For good measure creditors also refused to endorse a resolution for the payment of almost $55,000 to the former administrators.
Albarran and Vouris can’t be liking their chances of having their fees on the Fraser Holdings job approved either.
Krejci and Keenan meanwhile continue to close the net, obtaining appointments as receivers to various trusts which sit behind the various corporate trustees to which they’ve been appointed either as liquidators or provisional liquidators.
The devilish details of what is starting to look like a major tax scam of the disturbingly familiar PAYG variety are helpfully highlighted by her honour, who also recounts details of the raid undertaken last month on McEvoy Legal, a firm which operates from the same building as Cassaniti’s CAP Accounting.
Apparently as the raid was underway Cassaniti expressed his opinion of Krejci and Keenan’s investigatory prowess, saying “They’re such fucking idiots, they haven’t even got the company where they hid all the money”.
Justice Cheeseman felt it was a remark worthy of analysis, though not in the way Cassaniti would have preferred.
“Mr Cassaniti appears to be referring to other persons when he says “where they hid all the money” (emphasis added),” she said.
“But in the context of the allegation that Mr Cassaniti is in control of the presently relevant companies and having regard to the movement of funds between the companies, I place some weight on the fact that Mr Cassaniti does not appear to be surprised and appears to have some awareness of suspicious dealings, even if he seeks to lay them at the feet of others.”
And those feet will be scurrying for cover.
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