Cor Cordis’ Kassem sweating on Dyldam default

By close of business this afternoon Stephen Hathway should know whether or not he’ll be summoning Ozem Kassem and various other insolvency peers for public examination come the New Year. Hathway is administrator of the deed of company arrangement (DoCA) keeping Plaza West Pty Ltd – a development vehicle formerly controlled by the Dyldam construction group – out of liquidation. Today marks the deadline for payment of an already…

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Bankruptcy

Witness the redemptive power of personal insolvency

Stigma shmigma. Who said bankruptcy permanently stained a person with the irredeemable taint of debtor’s shame? SiN has come across a practitioner whose experience more than validates the redemptive power of personal insolvency. Last week Jirsch Sutherland announced that business director Rebecca Hindson had been appointed manager of the firm’s new Wollongong office. In a press release dated August 16 we learn that Hindson – an Illawarra local –…

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Litigation

DoE sues McGrathNicol foursome for $3 million

These days the term Disruption brings to mind new digital-based business models, demolishing the foundations of commerce with fiendishly clever and wholly amoral algorithms – but as the proceedings launched recently by the Department of Employment (DoE) against McGrathNicol demonstrate, disruption can be about new law, and the will to execute. Late last month the DoE filed a statement of claim in the Federal Court alleging breaches of…

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