BPS Recovery bests regatta rivals

Max Prentice being relieved of his trophy
Photo: SiN Images

FATHER and son team Max and Matt Prentice took the honours last Friday when seafaring numerati assembled for the Institute of Chartered Accountant's regatta.

Max's Ticket of Leave led the way for BPS Recovery, crossing the line first ahead of Eagle Rock, owned by O'Brien Palmer's Bryan Collis and Tonic, carrying BPS partner, Dave Sampson.

The shortened course gave race participants time to rehydrate on board before the official rehydration at the Cruising Yacht Club's bar, an event interrupted briefly by the presentation ceremony.

This was the third time Max has won the trophy, which SiN was assured is much coveted by liquidators. 

For SiN the event was about tapping into what's occupying the minds of accounting's insolvency operators. 

Apparently further regulatory examination, focussing on individual practitioners, is anticipated and as the rum flowed, those likely to be subjects of the inquisitors' inquiries were speculated upon.

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Alcott's consultancy wound up

Errol Alcott.
Photo: Fairfax Media

THE physiotherapist who soothed the sprains of the Australian cricket team for 22 years before moving on to treat Russell Crowe's Rabbitohs is getting deep heat of his own over more than $200,000 in unpaid tax.

Court documents show the Federal Court appointed RMG Partners' Murray Godfrey as liquidator to Errol Alcott Professional Services Pty Ltd on October 19, 2012.

The order followed an application by the ATO in August last year seeking to have the company wound up. The taxman made the application after a statutory demand for $210,447.82c – issued on May 10, 2012 – went unpaid.

Errol Alcott is listed as sole director and shareholder of the company.

The debt comprises amounts for outstanding BAS and income tax stretching back as far as 2008, as well as penalties for failing to lodge income tax returns and accrued interest.

Speaking outside his Caringbah home on Friday, Mr Alcott told SiN the wind-up matter related to personal issues.