Trustees

Mental illness and bankruptcy: are they such uncommon bedfellows?

Bankrupt’s mental illness excuse dismissed

As Australia’s population ages and the costs of modernity multiply, insolvency practitioners will find themselves dealing more frequently with clients unfit to exercise their responsibilities and obligations. This story is not about them. This story is about a bankrupt whose attempts to be exempted from a public examination on the grounds that it would exacerbate her mental illness have come to naught in the Federal…


A recruitment firm is seeking a bankruptcy trustee and offering a full time salary for a part time role

Unusual offer for retiree trustee

SiN doesn’t normally do job ads but what came across the desk in the last few days was different. A well known recruiter circulated an email earlier this week. The offering is somewhat curious. The Australian Financial Security Authority (AFSA) might care to take note. If you are a trustee in bankruptcy in the twilight of your career you might be interested. Here is the…


George Constantinidis house repossession

Constantinidis repo coughs up curious connection

IT’S remarkable what emerges from a property visited in the process of being repossessed. SiN attended a single story house on Woodford Road, Rockdale recently which had been owned by George Constantinidis, an undischarged bankrupt and a relative of Achilles “Big Al” Constantinidis, who long ago partnered with Paul Keating in a piggery. George Constantinidis has been opposing attempts by BPS Recovery’s Max Prentice to secure…


Andrew Wily retired form bankruptcy

Andrew Wily relinquishes bankruptcy ticket

ARMSTRONG Wily principal Andrew Wily has confirmed he has surrendered his registration as a trustee in bankruptcy, blaming onerous regulation and meagre profits. “It’s been brewing for a while,” Wily told SiN when asked when he decided to give up his ticket. “It’s a process that will go on for months of winding down, that’s all,” he said. The Australian Financial Security Authority (AFSA), which regulates personal insolvency,…


Burke passes Coshott baton to Prentice

IT was an unusual little meeting at the offices of the Official Trustee in Bankruptcy last month. There were two private trustees present. A third and fourth attended by proxy. And each was vying to take on the trusteeship of the bankrupt estate of Robert Gilbert Coshott. Coshott is a former solicitor who was struck off the roll in 1997. He was bankrupted in 2008…