Corporates

ANZ freezes PPB partnership facility

With the dissolving of the PPB Advisory (PPBA) partnership imminent, ANZ is rumoured to have frozen draw downs on the PPBA partnership’s loan facility, insisting it be repaid as the August 1 deadline for the completion of PwC’s acquisition of the firm approaches. Several sources who spoke to INO confirmed hearing reports that the bank was refusing requests for further borrowing. One source said ANZ was…

Read More

Pitchers’ Hughes proves stick admissable

A fresh judgment was produced by the Supreme Court of West Australia last week that constitutes a win for Pitcher Partners WA partner and Westgem Investments liquidator Bryan Hughes in his marathon dispute with secured creditor Commonwealth Bank over the date of Westgem’s insolvency. Specifically, the court was asked to decide whether a Quickbooks data file saved to a USB stick constituted “books and records” and was therefore admissible. Initially there’d been been no…