Corporates

Ten VAs head to court

FTI yet to consent to Parbery as SPL

AN application to appoint PPB Advisory’s Steve Parbery special purpose liquidator (SPL) of Queensland Nickel (QN) has been lodged in the Federal Court but the stricken nickel firm’s general purpose liquidators (GPLs) are yet to declare whether they will consent to or contest the move. Quentin Olde, one of four FTI Consulting partners formerly appointed GPLs to QN on April 27 told SiN yesterday that the…


KPMG Brisbane partner expelled from ARITA

THE CVs of KPMG Brisbane’s two most senior insolvency professionals are sporting bruises after the Australian Restructuring Insolvency and Turnaround Association (ARITA) announced this week that it had terminated their membership. In a short statement ARITA said that Ian Hall and Chris Giddens have been expelled and their names expunged from the ARITA Register for their refusal to comply with penalties applied as a result…


Palmer ousts FTI, ponders DoCA

IN the wake of FTI Consulting’s removal as managers of the Yabulu nickel refinery in Queensland yesterday, creditors now face the prospect of the operations once again being controlled solely by Clive Palmer’s nephew. Until last Sunday, James McDonald and Clive Mensink were the directors of Queensland Nickel Sales Pty Ltd (QNS), a company first registered in 1972. However McDonald’s removal was only made official on Tuesday, one day…


Fat finger behind ANZ wind up error

WELL, you wouldn’t have wanted to be a hung over fund manager yesterday morning, logging on to check the portfolio after a big night out. If you had then you might’ve seen that the daily insolvency notices included a listing for the ANZ Bank. Further, the listing showed that the bank was being wound up by the tax office. According to the notice ANZ was subject…


How FTI trumped Hall Chadwick for Yabulu

FTI Consulting might have first been contacted about a VA appointment to Queensland Nickel Pty Ltd (QN) on Sunday January 3 but according to reports in The Australian newspaper, rival firm Hall Chadwick had a team on the ground at QN’s Yabulu nickel refinery in Townsville the following day. The report, published on Thursday January 7, put Hall Chadwick’s Richard Albarran, Jovandeep Singh, Mathew Badcock, and Brent Kijurina at…