Terrorism expertise no protection against debt threats

ACCORDING to her LinkedIn profile, Nessa Doyle is a senior account manager at Westpac specialising in anti-money laundering and counter terrorism financing.

That expertise has not however saved the Bondi resident from threats to her personal solvency.

That's why she approached O'Brien Palmer's Chris Palmer about a Personal Insolvency Agreement (PIA).

O'Brien told SiN that he didn't anticipate any serious opposition to Doyle's PIA. Thankfully, Doyle's work at Westpac can continue unencumbered.

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Byrnes still augmenting Sydney's streets

THE corner of Castlereagh and Bathurst Streets is a long way from the DoCS office at Wagga Wagga. 

Nevertheless SiN does not believe that former "insolvency expert" Jim Byrnes had detoured on his way to his new job as a public servant in the state's south west to scoff a quick Subway sub when he was spotted around nine o'clock this morning.

The notorious figure was observed near the entrance to the Subway outlet, addressing an unidentified man in an animated manner. 

SiN turned away for no more than 20 seconds but in that time James, who moves quickly for a big man, had vanished as if he’d never been there at all.

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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.

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.

CBA leave application no problem for Prentice.

VETERAN liquidator and bankruptcy trustee Max Prentice is probably very happy the Commonwealth Bank wants to do the heavy lifting in relation to the King family.

A recent Federal Court judgment okayed an application by the CBA seeking leave to proceed against Gregory Keith King and Kelly Ann King and Mr King's parents in a recovery action in the Supreme Court. Prentice is the younger Kings' bankruptcy trustee.

This is an odd one. The younger Kings had various accounts with CBA, including a home loan account secured by a property in the Sutherland Shire. 

When the younger Kings sold the property they put the proceeds in a CBA term deposit. On maturity they used the proceeds to pay off the home loan account and Mrs King made arrangements to pay what is described in the Federal court judgment as "a slight shortfall". Then the CBA stuffed up.

PPB's dead cat flounce

THE husband paid the agistment expenses. The wife owned the horses. The husband owned the commercial premises in Sydney's west. The wife occupied them. She ran a small legal practice. He covered most of her outgoings. And charged her a dollar a year in rent. Yeah, I know. The sisters just can’t cop a break.

And of course there's more. This is a public examination. PBB's Mark Robinson is the trustee in bankruptcy to the wife's estate. The creditors want gravy. Sydney's queen of insolvency litigation Sally Nash was doing the questioning on Robbo's behalf. As she probed both the husband and afterwards the wife both oozed embarrassment. Messy and protracted is the pursuit of gravy.