April 2018

Cor Cordis partner expelled from ARITA

The middle of a national rebranding campaign is not when a firm wants one its most senior and prominent practitioners to be unfavourably exposed but following publication of a disciplinary notice by ARITA, Cor Cordis finds itself in such a position. Posted on the ARITA website last Friday, the notice discloses that Ozem Kassem, one of Cor Cordis’s senior partners in NSW, has been expelled from…


Affirmation of CALDB decision dooms Joubert

ASIC’s long pursuit of Randall Joubert looks set to finally conclude after the Administrative Appeals Tribunal (AAT) yesterday affirmed a 2016 decision of the Companies Auditors Liquidators Disciplinary Board (CALDB) recommending that Joubert’s registration as a liquidator be cancelled. In Joubert and Members of the Companies Auditors and Liquidators Disciplinary Board [2018] AATA 944 (19 April 2018) AAT deputy president Brian Rayment QC said in conclusion: “I…


Judge rules receivers best placed to peddle bicycles

In the current climate of applications for leave to appeal to the High Court about decisions relating to trust property, SiN noticed this judgment emanating from South Australian-based Federal Court judge Richard White involving a dispute about bicycles, which affirms administrators’ and liquidators’ rights to claim remuneration and expenses from trust assets. The judge’s ruling came after Tim Clifton and Daniel Lopresti of Clifton Hall were earlier…


Top Ranking Insolvency Practices in 2018 – 1st quarter

Stratos Legal has released its numbers for insolvency appointments for first quarter 2018 and they show that while some firms that dominated 2017 are off to a similarly buoyant start this year, others that finished on top in 2017 are lagging. Mackay Goodwin for example, which led the list of voluntary administrations (VAs) in NSW at the end of last year with 35, is currently not…


Judge endorses SVP pairs’ view about dodgy DoCA

It’s not often that an administrator’s assessment of a deed of company arrangement (DoCA) is sufficiently bleak for them to recommend creditors ignore the DoCA’s promise and put the company into liquidation. Nor is quite the norm for the creditors to ignore the administrators’ recommendation and wholeheartedly endorse the dubious and doubtful deed. That however is what transpired in the curious matter of Syndicate Forty…


dVT pair forced to confirm validity of appointment

dVT’s Antony Resnick and Dave Solomons have been dragged into a dispute that has led to a challenge to the validity of their appointment as administrators to the Carzapp group of companies connected to self-described entrepreneur Graham Meyerowitz. NSW Supreme Court judge Justice Ashley Black this week heard that the challenge is based on “discreet issues” relating to the companies’ constitutions and whether the appointing director had…


Leigh to defend PPBA/Neolido fraud claim

David Leigh, the former PPB Advisory (PPBA) partner who stunned the profession after it emerged he had allegedly pinched $800,000 to pay debts, is set to stun again. In the Supreme Court of Queensland yesterday, Leigh filed a notice of intention to defend a claim for recovery of the funds, launched on February 28, 2018 by PPBA. From what can be gleaned from the document…


Senatore flying solo after Deloitte departure

Deloitte’s Canberra office has undergone a modest restructuring of its own following the departure of partner and well known local identity Eddie Senatore. According to his Linked In profile, Senatore set up Eddie Senatore Advisory earlier this month and while the man himself could not be tracked down to discuss the reasons behind his exit, Deloitte confirmed the loss of Senatore hadn’t dented its determination…


BDO trio appealing Mossgreen judgment

This afternoon lawyers for BDO partners James White, Andrew Sallway and Nick Martin will return to the Federal Court hoping to reverse the April 9, 2018 judgment of Justice Nye Perram in the matter of Mossgreen Pty Ltd (Administrators Appointed) [2018] FCA 471. Last Monday the judge ruled that the BDO trio – who were appointed administrators of the gallery and auction house on December 21,…


Decision on liquidator’s fate near after AAT hearing

Sydney liquidator Randall Joubert will soon know whether his registration is to be cancelled after hearings in the Administrative Appeals Tribunal (AAT) appeared to conclude on Monday. We say appeared only because one can never be sure with such an interminable sequence of proceedings – they commenced in May 2016 – but after attending the hearing it was evident that AAT deputy president Brian Rayment had…