September 2015

Bookarelli insists it’s solvent as court dismisses opponent’s judgement

THE sparring between litigation funder Bookarelli and its former agent Katanga Developments appears to be drawing to a climax as the two countdown to October 7, when an application by Katanga to wind up Bookarelli is due to be heard in the NSW Supreme Court. But will it get there? On September 17 NSW District Court Judge James Curtis set aside the judgement upon which…


KPMG’s Templeton wins appeal to have remuneration downgrade reviewed

IT’S taken 12 months but KPMG’s Damian Templeton has – with  King & Wood Mallesons’ help – overturned a September 2014 judgement rejecting his application for a review of an earlier determination slashing his and former partner Phil Hennessy’s remuneration as receivers of the illegal Letten Schemes by $545,000. Last Friday the Court of Appeal set aside a September 2014 judgement of Justice Michelle Gordon (now…


Insolvent Concept. Word on Folder Register of Card Index. Selective Focus.

Litigation funder facing liquidation as colourful identities blue over Bookarelli

IT’S ironic that litigation funder Bookarelli Pty Ltd is facing potential liquidation, given how profitable its proof-of-debt facilitation sideline appears to have been for the $1 company linked to sometime fraud investigator and Blue Mountains resident Richard Kurland. According to a September 2013 District Court judgement, between 28 June 2011 to 28 March 2012, almost $800,000 was paid into a solicitors’ trust account linked to…


barristers arriving at NSW supreme court to battle over a liquidation

Bruce Dennis guilty of professional misconduct

SYDNEY’S insolvency profession may be interested to learn that ex-solicitor Bruce Vernon Dennis  – who has acted for many liquidators and trustees in the past – has been found guilty of professional misconduct by the Council of the Law Society of NSW. In a 34 page judgement handed down today, the Council detailed a litany of breaches of statutory obligations by Dennis, whom the Council refers to as “the…


EY Oceania absorbs Canberra's Kazar Slaven

EY Oceania absorbs Canberra’s Kazar Slaven

CANBERRA-based insolvency practice Kazar Slaven has been taken out by EY Oceania, a division of global professional services heavyweight, Ernst & Young (EY). In a note to clients last Thursday, firm principals Henry Kazar and Michael Slaven said the transaction would be completed by the end of the month. “We’re pleased to advise you that the professional services firm Ernst & Young (EY), has moved to…


George Constantinidis house repossession

Constantinidis repo coughs up curious connection

IT’S remarkable what emerges from a property visited in the process of being repossessed. SiN attended a single story house on Woodford Road, Rockdale recently which had been owned by George Constantinidis, an undischarged bankrupt and a relative of Achilles “Big Al” Constantinidis, who long ago partnered with Paul Keating in a piggery. George Constantinidis has been opposing attempts by BPS Recovery’s Max Prentice to secure…


SV ditches executive director

STEPHEN Hathway, the man who with Tim Heesh established SV Partners in NSW almost a decade ago has been dumped by the firm, with clients advised of his departure via email last week. “Dear Colleagues, we advise that Stephen Hathway, Director in our New South Wales practice, has ceased to have an active involvement with SV Partners and is presently on extended leave. “Stephen joined…