Liquidators

Breretonism invoked as lien disputed

If it had a spare moment to reflect, the spectre of proportionality would realise Justice Paul Brereton isn’t the only judge it has to thank for the frequency of its invocation. Another recent invokor is the NSW Supreme Court’s Justice Stephen Robb, who last week summoned the liquidator-terrorising shade to cloud the fortunes of David Clout. In the matter: David Lewis Clout in his capacity as Liquidator of Mainz…


Sheahan Lock poised to replace William Buck duo

The foreign creditor seeking to eject Rob Whitton and Brendan Copeland as liquidators of Ridley Capital Holdings (RCH) has lined up John Sheahan and Ian Lock as their replacements, sources have confirmed. California-based Corbis Global applied in the NSW Supreme Court to replace the Williams Buck pair due to differences about how the RCH liquidation should proceed. Corbis, which in November 2015 won judgment against RCH for unpaid fees…


William Buck pair resist removal bid for now

William Buck’s Rob Whitton and Brendan Copeland have temporarily fended off an effort to have them removed as liquidators of Ridley Capital Holdings (RCH), a company controlled by architectural entrepreneur Joshua Ridley, after a judge ordered that their foreign nemesis must first stump up $45,000 as security for costs. In a judgment handed down this week Supreme Court Acting Justice Reg Barrett decided that the Californian-domiciled plaintiff,…


letter to judge labelled "extraordinary"

Judge labels liquidator’s letter “extraordinary”

It’s not often that a liquidator writes to a judge requesting that the judge discontinue proceedings in which the liquidator is in control of the plaintiff. It’s probably even rarer for the judge to publish the letter. But it’s happened, courtesy of a judgment from acting Supreme Court Justice Reg Barrett and an unfortunate epistolary impulse indulged by liquidator Andrew Wily. Typically the circumstances giving…


ASIC warning to directors facing wind ups

One wonders what the Hruz’s of Albury think of the latest initiative to stamp out unscrupulous insolvency advisers. Josef and Yulia Hruz are the directors and owners of John Doe Pty Ltd, an inactive-seeming entity that’s not filed a form since 2007 according to company records. John Doe Pty Ltd also happens to be the name the Australian Securities and Investments Commission (ASIC) used as an example in a letter it…


Struck-off liquidator appeals registration

It’s no surprise that terms such as: “beggared belief” appear amongst the findings of the executioner of auditors and liquidators, which has published its reasons for cancelling the registration of Randall Clinton Joubert more than two months after imposing sentence. A sole practitioner based in Elizabeth Street, Sydney, Joubert was hauled before the Companies Auditors and Liquidators Disciplinary Board (CALDB) in July 2015. The hearing…


Unfair preference claims are becoming a minefield for liquidators

Unfair preference claims riskier

Kemp Strang’s Peter Harrison has delivered a compelling summary of the risks attending to claims for unfair preference payments in the context of the May 13 judgment of Federal Court Judge Jim Edelman In the matter of FPJ Group Pty Ltd in Liquidation. The humbling affair involved Hall Chadwick’s David Ross – as liquidator of FPJ Group Pty Ltd  – going after FPJ’s supplier, CSR Building Products. Ross…


Campbell drawn back to Deloitte days

Reconstruction guru Chris Campbell is being forced to revisit his past as a partner at Deloitte thanks to the bullish determination of creditor denied Garry Hopper (pictured), who on Monday returned for another crack via the Supreme Court of Appeal. The ex-MF Global Australia (MFGA) trader has been waging a legal battle against Campbell and his former Deloitte colleagues David Lombe and Vaughan Strawbridge since October…


liquidator fails to measure up

Judge clouts Dinoris over duties

The Federal Court has ruled that Vincents partner Peter Dinoris failed in his duties by not contacting the director who appointed him voluntary liquidator of her company, despite the director transferring $236,500 from the company’s bank account just days prior to his appointment. In a judgment handed down last week, Federal Court Judge John Reeves found that “Mr Dinoris contravened s 180(1) of the Corporations Act by failing…


Justice and the law may have to adjudicate on a $500 miliion proof of debt

Octaviar: $500 million proof of debt persists

“We’re talking”. That’s almost all the special purpose liquidator of Octaviar Limited (OL) would say yesterday when SiN phoned to enquire about that mammoth and as yet unresolved proof of debt (PoD) action RSM’s David Kerr holds against OL’s sister company Octaviar Administration (OA). OA is currently in the hands of general purpose liquidators Kate Barnett and Bill Fletcher from Bentleys Corporate Recovery. “We are working at resolving…