Bankruptcy

Bankruptcy trustee preserves his indemnity

Yachting bon vivant evades impact of costs

BPS Recovery’s Max Prentice has dodged a major blow in the Federal Court, with a judge yesterday ordering he pay 70 per cent of the costs of a creditor who challenged his handling of a meeting of creditors of former bankrupt and struck off solicitor Robert Coshott but declining to make an order that Prentice be precluded from utilising his right to be indemnified for those costs…


bankrupt uses ad words against trustee

Trustee stalker’s tactics threatened to unseat VAs

Safe workplaces are all they rage are they not? Sterilised of bullies and abusers, staff can be at their productive best and woe betide anyone who doesn’t take the issue seriously. Shame the application of those values is so selective. Where are the vocal anti-bullying advocates when a bankruptcy trustee is subjected to what Rodgers Reidy director David Hambleton has been enduring? If you haven’t…


Coshott trustee's Christmas treat

Indemnity costs a Christmas treat for trustee

Bankruptcy trustee Max Prentice might have more to smile about than usual this Christmas after long time nemesis Fewin Pty Ltd and members of the associated Coshott family abandoned their action against the BPS Recovery partner and against ex-trustee in bankruptcy John Burke in the Federal Court. On Tuesday Fewin Pty Ltd, Ljiljana Coshott, and her husband Robert Gilbert Coshott were granted leave to discontinue proceedings which had been the…


Trustee ousted over litigation funding deal

Getting between an ex-wife and a multi-million dollar property in Pyrmont has not turned out well for Veritas Advisory’s Louise Thomson. In a recent judgment of the Federal Court Justice Kathleen Farrell detailed how Thomson, as trustee of the bankrupt estate of Leslie James Young, was certain to be replaced by Jirsch Sutherland’s Stewart Free. What seems to have seriously aggravated Mr Young’s ex-wife and principal…


Queuing for Traill’s Congress of Trustees

SiN hereby confesses that the following is a shameless plug for itself and for Traill & Associates‘ annual Bankruptcy Congress, which SiN is delighted to be attending on Monday, November 14 as official media partner. This is the fourth annual Bankruptcy Congress organised by Traill & Associates, though principal Rosie Traill has been organising and running specialist events for the insolvency profession for more than 15 years….


Fewin fails to pin Prentice on pay

The seemingly interminable struggle in the Federal Court between Fewin Pty Limited and members of the Coshott family against BPS Recovery partner Max Prentice was again laid bare for chronicling yesterday. In the morning Justice Jacquie ‘how sweet it is’ Gleeson tossed out a leave for appeal application made by Fewin, Ronald Michael Coshott and Robert Gilbert Coshott. The applicants were objecting to orders made by Justice…


Opportunism troubles but judge agrees to annul

One has to wonder what was going on with Baycorp Collections and its lawyers following the decision of Federal Court Judge Chris Jessup to annul the bankruptcy of Victorian woman Buket Ozdil. The decision was handed down last Friday after Ozdil applied to have her August 5, 2014 bankruptcy annulled and the bankruptcy notice which led to her bankruptcy set aside. Justice Jessup granted her the…


Bankruptcy regulator tells trustees it shares their concerns

AFSA intervenes over email offer

Well it sounded like the gig of a lifetime, albeit one for a bankruptcy trustee at the end of their career but that may no longer matter. The regulator has intervened. It began last week when Australia’s registered trustees in bankruptcy received an unsolicited email from Pieter de Bruyn of Personnel Concept Group (see: Unusual Offer For Retiree Trustee). The recruiter invited expressions of interest on…


Trustee barred from using conflicted lawyer

It’s not often that a judge tells a bankruptcy trustee to hire a different lawyer. However in the case of Leroy versus Mogilevsky, Hall Chadwick partner Paul Leroy has suffered just such a fate. Last week Federal Circuit Judge Michael Jarrett ordered that Leroy be restrained from retaining Gold Coast lawyer Jeremy Worcester of Worcester & Co as his legal representation in the matter. The…


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…