Wednesday 28 September 2011

Lordy's late but Kevin's worried

Promoter Kevin Jacobsen
outside Darlinghurst Court.
Photo SiN Images.
A liquidator interrogating a receiver at a public examination? Sounds like SiN's jurisdiction.

But first the examinee has to appear and it was half an hour past the scheduled time before deregistered liquidator, receiver and former PKF partner John Lord and his lawyer showed at Darlinghurst Court number four.

The Registrar seemed to find the reason offered for the delay understandable. 

PPB gets the Hammerschlag hint

SUPREME Court justice David Hammerschlag could not have been any gentler or more persuasive in his insistence that PPB, the liquidator of the former ABC Learning Centres (Now ZYX Learning Centres in Liquidation) get a wriggle on in its defense of a $70 million claim being mounted by a Morgan Stanley private equity-type entity, domeciled in the Cayman Islands.

Friday 23 September 2011

Unclean hands and the limitations of brine.

A not-so-recent image
of Roya Sheikholeslami.
Picture: University of
British Columbia 
SiN has always suspected that ripping salt out of water is not a high margin enterprise.

Why spend taxpayer's hard earned zapping the salty stuff to produce no-sodium H20? 

Not that the process of desalination was the reason behind the bankrupting of Roya Sheikholeslami, a highly credentialed, Iranian born Canadian chemical engineering scientist currently wowing them in Scotland.

After moving from Sydney to Edinburgh in the late 1990s, Roya's affairs were put in the hands of bankruptcy trustee Ray Tolcher.