Regulation/Legislation

ARITA heeding small fry’s call on precedents

With compliance assuming an elephantine prominence in the day-to-day existence of the insolvency practitioner, it’s no surprise that the smaller, less-resourced operators have found it difficult to cope without updated precedents. The number of hours in a day is after all, frustratingly inelastic. Those frustrations have been intensified by the perception – commonly expressed to SiN by the more diminutive practices – that the Australian…


Report reveals insolvencies linked to scam syndicate

Searches of insolvent companies referred to in Pitcher Partners‘ report on the A & S Services Australia Group (ASSAG) have identified at least one insolvency practice whose principals are now assisting regulators probing a multi-million dollar tax evasion scheme allegedly masterminded by former bankrupt Philip Whiteman. Pitcher’s partner and report author Andrew Yeo, who interviewed various individuals connected to ASSAG, said in the report that ASSAG group…


Jamieson Louttit is grimly determined in his battle with FEG over fees.

Louttit FOIs FEG in battle over liquidation fees

With final submissions to the Department of Employment’s Reforms to address corporate misuse of the Fair Entitlements Guarantee (FEG) Scheme discussion paper due today, SiN thought it appropriate to revisit the tooth and nail struggle in which Sydney liquidator Jamieson Louttit has been engaged since receiving a $500,000 claim from the Department’s FEG Recovery Unit. The FEG recovery team are of the view that appointees are…


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…


Banned liquidaotr guilty on one FEG fraud charge

Banned liquidator not guilty of attempted FEG fraud

In the same month that the Federal Government released a consultation paper seeking input on ways to reduce FEG fraud, a jury in the Victorian County Court has found a suspended liquidator not guilty on 15 charges of attempting to con payments out of the scheme using false employee records. The trial of Victorian Andrew Leonard Dunner, who in 2013 had his liquidator’s registration suspended…


Fraud bust likely to flush out more accused.

Insolvency referrer charged in ATO fraud bust

There’s going to be some boot quaking in insolvency town following yesterday’s spectacular ATO fraud bust. One of those those hauled before court as an alleged party to the grand conspiracy is none other than Jason ‘Jay’ Onley, the one-time Winter Olympian who cut his insolvency teeth at Fox Syme’s 180 Corporate before heading out to make his way as an advisor and referrer. Onley’s…


Notice to produce scuttled by judge

ASIC scuttles liquidator’s production notice

Quitting as a liquidator has yet to earn ArmstrongWily principal Andrew Wily a break. His attempt last month to resign as liquidator from 35 companies drew correspondence from ASIC querying whether the route by which he sought to convene the meetings of creditors might’ve invalidated his retirements and this week the regulator scored a win in the opening exchanges of its fight with the keen…


Liquidators' homes are safe from state enviro laws, but not their fees.

Liquidators: homes safe from enviro-liability

Less than three weeks after a judge of the Queensland Supreme Court elevated the environment’s rights in liquidation above those of liquidators and employees, the lawyer who helped bring about this ominous reordering has assured liquidators their homes are safe, though they might be wise to assume such assurances adhere best to dwellings built of approved mud bricks, earth reverently rammed and only authorised recyclables….


Wily's resignation problematic for replacements.

ASIC intervenes on Wily resignations

SiN cannot imagine it was intentional but ex-liquidator Andrew Hugh Jenner Wily has – in engineering an 11th hour resignation from 35 creditors voluntary liquidations – cast Macquarie Gordon’s Gus Gordon and Michael Hird adrift on the sea of limbo. Between April 3 and April 6 Wily, whose liquidator’s registration expired on April 24, lodged 35 notices under section 499(5) of the Corporations Act, advising creditors…


ASIC's Adrian Brown has let his liquidator's registration lapse.

ASIC’s Brown relinquishes liquidator’s ticket

SiN has already reported on the decision by ASIC’s top liquidator cop Adrian Brown to “scale back” his duties to three days a week but there are questions around that that the selectively communicative Brown needs to clarify. ASIC has been running an advertisement for his replacement on SEEK but what kind of replacement will want a job where his or her predecessor is still around, more…