Liquidations

Judge cuts EY partner’s “disproportionate” claim

Henry Kazar received a less than ideal send off to the financial year thanks to Justice John Griffiths, who on June 30 decided that the EY partner’s claim for $64,390.50 was coming it a trifle high given Kazar and his team laboured for years to engineer a land sale that raised all of fifty grand. Kazar applied to the Federal Court in April of this year to have…


Litigation funder accused of “collusive” agreement

Andrew Wily’s relinquishing of his liquidator’s ticket is generating some interesting fallout, with an application by one of Wily’s replacements leading to the publication of an eyebrow raising allegation about a litigation funder, courtesy of the judge before whom the application was made. In the matter of City Pacific Limited [2017] NSWSC 784  Justice Paul Brereton of the Supreme Court of NSW included in his judgment a tale that…


Specualtive demand era may be ending.

Liquidator roasted over speculative demand tactics

Sydney liquidator Gregory Jay Parker may not be presently enamoured of the wisdom of Federal Court judge Michael Lee, at least as it applies to the practice of issuing a speculative demand. This week in The matter of Worldwide Property Services Pty Limited (In Liquidation ACN 066 573 671) the judge included some less than flattering comments about Parker’s optimistic April 13 ex-parte application for an extension of…


Deloitte scoops Plutus pool

Deloitte scoops Plutus provisional appointments

The Deputy Commissioner of Taxation (DCoT) has moved swiftly to take control of multiple insolvent entities connected to the alleged $130 million Plutus Payroll fraud and Deloitte partners Eddie Senatore, Tim Norman and Sal Algeri have scooped up what’s likely to be some very securely funded roles as provisional liquidators. On June 6 in the NSW Supreme Court DCoT intervened in a number of winding up…


Hastie liquidators' claims on audit firm losing fat

Hastie: further liposuction on audit claims

PPB Advisory’s Craig Crosbie and his fellow Hastie Group liquidators seem to be fighting a losing battle in their bid to generate recoveries for the creditors of the failed construction firm, and by creditors SiN means Hastie’s banks, they being the only parties with a hope of winning a decent drink from litigation that over the last five years has come to resemble trench warfare. Crosbie is…


Surplus scooped by Pluton liquidators

Pluton liquidators win fight for DoCA surplus

PwC’s Sam Marsden and Derrick Vickers look to have wangled a result from the West Australian Supreme Court in their fight with receivers over a deed fund surplus on the Pluton Resources job. In November last year the pair – in their capacity as Pluton’s liquidators – applied for orders relating to the question of Pluton’s entitlement to $835,021.94, left in a deed fund following…


Tightrope: “European way” unravels on eve of hearing

After four years of near Spartan resistance, Stephen Hathway has unexpectedly extracted a settlement from the family behind the failed, cheap-as-chips girls wear outfit, Tightrope  group. On Monday, orders were made by consent between Hathway as liquidator of Tightrope Retail and Tightrope Wholesale and Robyn Tripolitis, wife of bankrupt company founder John Tripolitis. Those consent orders came on the eve of the scheduled commencement of a…


Domenic Martino injuncted from acting as QNI controller pending hearing

QNI judge dispenses with Martino “interference”

The four FTI Consulting partners managing the liquidation of Queensland Nickel have had a tidy win in the Supreme Court of Queensland after applying to extend an interlocutory application preventing Domenic Martino and China First Pty Ltd from interfering in the various proceedings the liquidators have on foot against interests associated with QNI’s ultimate owner, Clive Palmer. The FTI four are suing Palmer’s Mineralogy for…


FEG funding appeals in two state courts.

FEG backs appeals on Linc and Amerind

The recently asserted primacy of State laws over the insolvency statutes is to be tested in two appeals backed by the bullish litigators running the Department of Employment’s FEG recovery Unit. In the case of failed coal-to-liquids aspirant Linc Energy, liquidators Stephen Longley, Grant Sparks and Martin Ford two weeks ago filed notice of their intent to appeal the judgment of Queensland Supreme Court Justice David J…


No pluses for Minus in chambers sale challenge.

No pluses for Minus in chambers sale challenge

Derek Minus may well be a dispute resolution specialist of the highest order but that does not seem to have helped him resolve his dispute with BPS Recovery’s David Sampson. The pair have been at loggerheads over the sale of Minus’s barrister’s chambers in Castlereagh Street since Sampson was given authority to sell the property in his capacity as court-appointed receiver late last year. In…