VA’s & DoCA’s

Nogueira no plans to challenge Dinoris appointment.

Worrells’ Nogueira pipped by Dinoris

A spat over an appointment has been laid bare in convenient detail after the Deputy Commissioner of Taxation (DCoT) applied to the Federal Court to have ex-Vincents partner Peter Dinoris appointed liquidator of W.D. Hall Pty Ltd in place of incumbent voluntary administrator (VA), Paul Nogueira of Worrells. Freshly minted Federal Court judge Roger Derrington explained in Deputy Commissioner of Taxation, in the matter of W.D. Hall Pty Ltd v…


Mrk Korda needs the CBA to establish a new loan facility

PPB poised as Korda awaits cash

With Ten Group voluntary administrators (VAs) facing a cash crisis by week’s end, the interests in control of the free-to-air broadcaster’s future are expected to reach agreement imminently on a deal that will see a new loan facility extended to VA Mark Korda and PPB Advisory appointed as “partial” receivers. Sources close to the administration revealed yesterday that Ten would be required to make payments on…


Can an online forum influences a creditor's vote?

Internet forum making its mark on Jirsch VA – Update

UPDATE: This article contains material critical of Subbies United and the way it managed its website. Material has since emerged demonstrating that Subbies United was administering its website in order to comply with: -Its terms and conditions; -its obligations under the defamation act; -its obligation under the Privacy Act; -its obligations to not allow publication of incitement to commit criminal acts. The aims and actions…


Court finds Rabbi wrongfully dismissed

Administrators’ dismissal of Rabbi wrongful

Anthony Elkerton and Ron Dean-Willcocks have run aground in their attempts to make redundant the head of South Head & District Synagogue (Sydney) with NSW Supreme Court Justice Paul Brereton ruling that the administrators’ termination of Rabbi Benzion Milecki’s employment amounted to wrongful dismissal. In the matter of South Head & District Synagogue (Sydney) (Administrators appointed) [2017] NSWSC 823 it’s revealed that the administrators gave the Rabbi notice…


Korda’s TEN DIRRI a gameshow script

Are Mark Korda, Jenny Nettleton and Jarrod Villani planning a game show? One with enough ratings oomph to haul the Ten Network Holdings out of its abyssal fiscal hole and propel it to the summit of profit? This was SiN’s initial inference on reading the Declaration of Independence Relevant Relationships & Indemnities (DIRRI) produced by the three KordaMentha partners, who were appointed voluntary administrators of Ten Network…


Bloomer imbroglio as DoCA V liquidation fight ensues

It looks like we have an imbroglio of Brobdingnagian dimensions in the matter of Bloomer Constructions, with a major creditor seeking to derail a deed of company arrangement (DoCA) being proposed by the failed building firm’s parent, the ASX-listed but suspended from quotation Onterran. The insolvency practitioners dealing with said imbroglio are Jirsch Sutherland’s Sule Arnautovic and Trent Devine who as Bloomer’s voluntary administrators (VAs) are recommending creditors…


Trust assets question determined in IP's favour

Cor Cordis pair score big on trust assets

The Federal Court has a delivered a wide ranging judgment on the disposal of trust assets by liquidators and receiver/managers that will have the Department of Employment’s FEG recovery unit abuzz as it prepares its appeal to the decision of Amerind Pty Ltd (receivers and managers apptd) (in liq) [2017] VSC 127 (23 March 2017). In Kite v Mooney, in the matter of Mooney’s Contractors Pty…


Surplus scooped by Pluton liquidators

Pluton liquidators win fight for DoCA surplus

PwC’s Sam Marsden and Derrick Vickers look to have wangled a result from the West Australian Supreme Court in their fight with receivers over a deed fund surplus on the Pluton Resources job. In November last year the pair – in their capacity as Pluton’s liquidators – applied for orders relating to the question of Pluton’s entitlement to $835,021.94, left in a deed fund following…


Applying the proportionality in pay principle to the quesiotn of saving a power station is vexed.

Proportionality in pay principle ignored again

SiN’s sometimes chastised for focussing only on bad news, though we all know that except in the most extraordinary of circumstances – the second coming perhaps – a good news event is no news. Unless it’s an event that overturns bad news. The issue of insolvency practitioner pay has in recent times been a topic that’s seen a major good news event – liquidator Cliff…


No monkeying around: liquidator summons administrators.

Liquidator calls in administrators over tax debt

Is it simply embarrassing for a company director who’s an accountant, registered tax agent, a Fellow of INSOL and a registered liquidator to have to call in administrators, or might the experience also imbue the practitioner with an enhanced sense of the plight of his clients? Only those who know North Queensland insolvency practitioner Justin Cadman well could have a stab at answering but SiN can…