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. 

The Supreme Court lists are appallingly aligned. Lord and his lawyer went to Level one, King Street.

On the court list that is the venue which appears to align with the listing of a public examination by the liquidator of Kevin Jacobsen Pty Limited (Receivers & Managers appointed) in Liquidation. But in fact, the case below the Jacobsen listing was scheduled for the King Street court.

Also curious is the fact that the examinee, John Lord, had his registration as an official liquidator cancelled by ASIC on August 26.

The reasons for the cancellation, which was in fact at Lord's request, are separate to today's proceedings, which involve Lord's appointment as a receiver to the Jacobsen entity several years ago.

The appointment was made at the request of grocery mogul John David after he and Jacobsen fell out over a million dollar debt.

Lord, who had flown in from his new home at Surfers Paradise to attend the examination, wasn't in the witness box long before difficulties emerged.

His lawyer rose to explain. Questions about Lord's alleged tardiness in producing his receiver's files related to Lord's concerns about potential privilege.

The files were said to be at PKF's offices. Lord's old pals on Level 10, 1 Margaret Street must be loving having the former partner's lawyers tramping in to examine files.

The court heard that three documents had so far been provided. Lord's lawyer suggested closing the court so he could adequately explain.

The registrar reluctantly agreed. Lord confirmed later that he did make his ten past five flight back to Brisbane. Jacobsen advised that he wants John David examined next.

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