Discipline

Original Ten DIRRI “substantially deficient”

In the wake of KordaMentha’s application to appoint a special purpose administrator (SPL) to Ten Network Holdings, correspondence obtained by SiN reveals the pressure placed upon the top tier insolvency and restructuring firm by both the corporate regulator and the Australian Restructuring, Insolvency and Turnaround Association (ARITA). In a letter released by the Federal Court, ARITA chief executive officer John Winter urged Ten’s voluntary administrators (VAs) to…


Ray Sutcliffe rubbed out for three minimum

ASIC stamps out Victorian liquidator Ray Sutcliffe

The liquidator regulator continues to use non-compliance as a means by which to cull under-performers and this week it was Raymond Anthony Sutcliffe offering up a mea culpa in the form of an enforceable undertaking (EU) that effectively benches the Melbournian for a minimum three years effective from June 28, 2017. According to the ASIC announcement the EU requires Sutcliffe to request that his registration be…


Report reveals insolvencies linked to scam syndicate

Searches of insolvent companies referred to in Pitcher Partners‘ report on the A & S Services Australia Group (ASSAG) have identified at least one insolvency practice whose principals are now assisting regulators probing a multi-million dollar tax evasion scheme allegedly masterminded by former bankrupt Philip Whiteman. Pitcher’s partner and report author Andrew Yeo, who interviewed various individuals connected to ASSAG, said in the report that ASSAG group…


Deloitte scoops Plutus pool

Deloitte scoops Plutus provisional appointments

The Deputy Commissioner of Taxation (DCoT) has moved swiftly to take control of multiple insolvent entities connected to the alleged $130 million Plutus Payroll fraud and Deloitte partners Eddie Senatore, Tim Norman and Sal Algeri have scooped up what’s likely to be some very securely funded roles as provisional liquidators. On June 6 in the NSW Supreme Court DCoT intervened in a number of winding up…


Plutus raid uncovers PAYG ex-fraudster

Raided Plutus accountancy has staffer with PAYG form

The Parramatta accounting firm raided last month as part of the alleged multi-million dollar Plutus Payroll fraud boasts a staff member intimately acquainted with the consequences visited upon accountants who pinch the taxman’s PAYG. Scahill & Co’s business development manager Darren Kallen, 51 (pictured) was formerly known as Darren Allen Kay, (pictured below) one-time registered auditor and partner at Baulkam Hills district accounting firm Fleming Moynihan &…


Banned liquidaotr guilty on one FEG fraud charge

Banned liquidator not guilty of attempted FEG fraud

In the same month that the Federal Government released a consultation paper seeking input on ways to reduce FEG fraud, a jury in the Victorian County Court has found a suspended liquidator not guilty on 15 charges of attempting to con payments out of the scheme using false employee records. The trial of Victorian Andrew Leonard Dunner, who in 2013 had his liquidator’s registration suspended…


Fraud bust likely to flush out more accused.

Insolvency referrer charged in ATO fraud bust

There’s going to be some boot quaking in insolvency town following yesterday’s spectacular ATO fraud bust. One of those those hauled before court as an alleged party to the grand conspiracy is none other than Jason ‘Jay’ Onley, the one-time Winter Olympian who cut his insolvency teeth at Fox Syme’s 180 Corporate before heading out to make his way as an advisor and referrer. Onley’s…


Notice to produce scuttled by judge

ASIC scuttles liquidator’s production notice

Quitting as a liquidator has yet to earn ArmstrongWily principal Andrew Wily a break. His attempt last month to resign as liquidator from 35 companies drew correspondence from ASIC querying whether the route by which he sought to convene the meetings of creditors might’ve invalidated his retirements and this week the regulator scored a win in the opening exchanges of its fight with the keen…


Wily's resignation problematic for replacements.

ASIC intervenes on Wily resignations

SiN cannot imagine it was intentional but ex-liquidator Andrew Hugh Jenner Wily has – in engineering an 11th hour resignation from 35 creditors voluntary liquidations – cast Macquarie Gordon’s Gus Gordon and Michael Hird adrift on the sea of limbo. Between April 3 and April 6 Wily, whose liquidator’s registration expired on April 24, lodged 35 notices under section 499(5) of the Corporations Act, advising creditors…


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…