Social/Professional

Korda’s TEN DIRRI a gameshow script

Are Mark Korda, Jenny Nettleton and Jarrod Villani planning a game show? One with enough ratings oomph to haul the Ten Network Holdings out of its abyssal fiscal hole and propel it to the summit of profit? This was SiN’s initial inference on reading the Declaration of Independence Relevant Relationships & Indemnities (DIRRI) produced by the three KordaMentha partners, who were appointed voluntary administrators of Ten Network…


ARITA board no CPA clone when it comes to renewal

With the CPA Australia acid bath showing no signs of dilution – despite the resignations of seven directors in two weeks – nobody should’ve been surprised when John Winter revealed yesterday that the board of the Australian Restructuring, Insolvency and Turnaround Association (ARITA) had been busy plotting a course to a new standard of replenishment and renewal. Addressing attendees at ARITA’s NSW/ACT divisional conference, the ARITA…


McGrathNicol hits the eject button from South Australia

McGrathNicol exiting South Australia

Maybe it says something about Jay Weatherill’s Government in South Australia that even the insolvency operators are struggling. The latest victim of Comrade Jay’s new age Leninism appears to be McGrathNicol, which well placed sources advise will close its doors on Level 26, 91 King William Street in the city of churches before the lease there expires on June 30. Of course blaming the South…


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…


FEG chief Henry Carr has been meeting with liquidators.

FEG chief open to the “honourable trade on”

The man doing all he can to eliminate complacency around circulating assets and the uses to which they can rightly be put was in Sydney this week, presenting to those most at risk of transgressing his rejuvenated enforcement regime. On Tuesday FEG recovery czar Henry Carr was at the boardroom of John Morgan’s BCR Advisory on Spring Street. It was lunchtime and Carr, who is spearheading the Department of…


Conference goers will have plenty to debate in 2017.

Advertorial: Timing propitious for Insolvency Conference

For a second consecutive year SiN is Official Media Partner for Traill & Associates‘ 16th Annual Practical Insolvency Conference and Gala Dinner, to be held on May 1 and 2 at Cockle Bay’s Dockside Centre in Sydney with special PPSA workshops to follow on May 3. Many of SiN’s readers know event organiser Rosie Traill. They’ve attended her conferences and know she’s been organising specialist insolvency…


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…


David Winterbottom is leaving KordaMentha

Winterbottom quits Kordas

KordaMentha restructuring veteran David Winterbottom confirmed to SiN yesterday he is leaving the top tier practice for the less burdensome life of consulting and directorships. The 52 year old, who started KordaMentha’s Sydney office with another ex-EY and Arthur Anderson alumni, Martin Madden in 2004, said after 30 years in insolvency he was ready to do something else. He had told the “two Marks” of his intentions…


Ghost II INSOL 2017

INSOL 2017 – harbour hosts its share of socials

Hospitality operators who utilise or are located close to Sydney’s greatest natural asset – the harbour – must’ve added some ballast to the balance sheet over the last week as discretionary expenditure spilling from the purses and pockets of the many hundreds of delegates to INSOL 2017 swelled outlays from local accounting and law firms eager to impress foreign colleagues and clients. While SiN doesn’t…


EY scoops up PPB partners

PPB loses finance and property partners to EY

There’s plenty that can be read into the recent decision by Marcus Ayres to move to EY, which the now ex-PPB Advisory partner was happy to confirm. Like why PPB Advisory – post the Litmus merger – appears less attractive to at least some of the partners who’ve been watching the continued growth in informal restructuring? Ayres is seeking a new opportunity, just like colleague…