Fake appointor forces liquidator to court

Fake appointor forces liquidator to court

It was only a matter of time before the scourge of identity theft forced an insolvency practitioner to validate their appointment and Sydney liquidator Steve Kugel has recently been enjoying the inconveniences that flow from discovering an appointor is not who he seems. Kugel was contacted on April 19 by a person identifying themselves as Tony Agius, director of a company called LG Energy Solutions. Over…

Dyldam Group capitulates on $9.23 million ATO debt

Cor Cordis secures fees after Dyldam, ATO settle

It’s been a while coming but with public examinations scheduled for the end of this month it’s no surprise that the colourful figures behind the Dyldam construction group have finally brokered a deal with the Australian Taxation Office (ATO) over a multi-million dollar tax debt. 70 cents in the dollar, with $1 million paid up front and the balance to be handed over in seven months….

GST dispute over fine gold sees liquidator supplanted.

Liquidator smelted as ATO chases GST

Why the Deputy Commissioner of Taxation (DCoT) at last got its way in terms of supplanting liquidator Schon Condon was answered this week with the publication of the reasons of Federal Court Judge Jacqueline Gleeson in the matter of ACN 154 520 199 Pty Ltd (in liq) v ACN 154 520 199 Pty Ltd (in liq) (2017) FCA 444. For the uninitiated, ACN 154 520…

Appointments offloaded en masse

Wily offloading appointments en masse

When one is defending an application which seeks to have a court enquire into your conduct, dumping insolvency appointments might signal a lack of faith in one’s defence. Unless perhaps you’re preparing to retire? And as it happens, ArmstrongWily principal Andrew Wily finds himself in just such a predicament. The keen angler and pig shooter is currently defending an action brought by the Australian Securities and Investments…

Conflict claims aplenty in ATO V Condon

ATO V Condon: pot calls kettle black

THE Deputy Commissioner of Taxation’s (DCoT) crusade to install special purpose liquidators (SPLs) to a company it alleges is part of a multi-million dollar scam involving gold bullion and improperly claimed GST credits was fully ventilated yesterday when the protagonists slugged it out during a half day hearing in the Federal Court. ACN 154 520 199 Pty Ltd – formerly known as EBS Pty Ltd  – is…

PrimeSpace trust assets under increasing pressure

Pressure increasing on PrimeSpace liquidators

McGrathNicol’s Shaun Fraser and Tony McGrath are edging closer to launching a claim against Meyer Vandenberg, the former solicitors of PrimeSpace Property Investment Limited (PPIL) following confidential examinations conducted in February, but in news to no one, progress is being complicated by a creditor, ratcheting up the pressure on the pair who are funding their investigations with money from PPIL trusts. PPIL is the responsible entity…

ATO funding to pursue voidable transaction uncertain

ATO vacillating on funding valuable voidable

The minutes of a recent meeting of creditors of Project 1876 Pty Ltd reveal that the Australian Tax Office (ATO) remains undecided on the question of whether it should fund liquidators Ozem Kassem and Jason Tang to go after a $12.2 million voidable payment made to the owners of the Dyldam construction group. Kassem and Tang were appointed voluntary administrators by Project 1876’s director Maria Fayad on July 1, 2013…

From deed administrator to liquidator: a tough transition?

Deed administrator to liquidator – a transition

When a deed administrator has no more hair to tear then he or she must assess the options – assuming there are any – and act. In the case of still hirsute Helm Advisory principal Stephen Hathway, that has meant embarking on an arduous path through the courts in search of an order that will, if obtained, see his role as administrator of the Plaza West…

Forge Group receivers seek chapter 15 declaration

Forge Group’s Chapter 15 petition dismissed

UPDATED: Friday, March 17 4:15pm – Forge Group’s petition for Chapter 15 relief and a declaration of the Forge Group administration as a foreign main proceeding has been dismissed by the Northern District bankruptcy court in San Francisco. The receivers of Forge Group are confident of resisting the latest legal assault by APR Energy after the Florida-based group advised it had lodged an application in the High Court…

The Hooters House

Judge halves fees on Hooters’ house sale

Sydney liquidator Adam Preiner has had a claim for $124,065.70 in remuneration claim halved, with a judge this week ruling that the Helm Advisory director’s right to take his fees and expenses from the assets of corporate trustee Minmxt Holding was not superior to the rights of caveators, whose cooperation Preiner had been forced to secure before he could sell the trust’s only asset. Preiner took…