Corporate Insolvency Blog | DC Partners Solutions

Posted on 20 September 202020 September 2020 by Mark Smith — Leave a comment

Ralph Ignatius Paligaru – profile

Ralph Ignatius Paligaru (“Paligaru“) is the director of Dural Alliances Pty Ltd (in liquidation) and Mills Management (Fiji) Pte Ltd. Ralph has charged his interest in these 2 companies and personally to DCP Litigation Holdings Pty Ltd (secured by duly perfected PPSR’s).

Dural Alliances Pty Ltd was a company set-up with Ralph’s former partner in the land and development proposed project at 632 Old Northern Rd, Dural (“the Dural land“), Craig Adams, former director of Bargo Developments Pty Ltd (in liquidation).

Ralph held a little know (possibly secret) interest in Craig’s Dural project via a written joint venture between themselves entered into secretly, without the knowledge of Mohan Kumar the former vendor of the Dural Land.

In furtherance of this joint venture, Ralph in August 2017 borrowed $540,000 from Franklin Yeezy Holdings Pty Ltd, which he supplied to his bestie Craig Adams. Ralph was and still is (to our knowledge) the registered power of attorney of Mohan Kumar.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 20 September 202020 September 2020 by Mark Smith — Leave a comment

Dural Alliances Pty Ltd – profile

Dural Alliances Pty Ltd (“Dural“) is a company owned by Ralph Paligaru.

Dural Alliances Pty Ltd was a company set-up in August 2017 with Ralph’s former partner in the Dural land, Craig Adams.

Ralph held a little know (possibly secret) but mostly silent interest in a written joint venture between himself and Craig Adams.

Craig Adams (“Craig“) subject to a secret joint venture agreement between Ralph Paligaru (“Ralph”). Ralph is and was the trustee of Mohan Kumar with a registered power of attorney.

Bargo is now in liquidation, Craig is bankrupt and Ralph appears to be heading in the same direction with debts including judgment debts mounting.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 11 May 202011 May 2020 by Mark Smith — Leave a comment

Case study – the covid ate the estate agent’s homework?

DC Partners (Solutions) Pty Ltd working with a financier client recently had collections dealing with an estate agent where the agent alleged it could not pay ‘factored monies’ because of Covid-19.

In December 2019, the agent factored its rent-roll management cheque for March 2020, expecting to receive around $52,000.

Factoring is the business of purchasing accounts receivables.

In this instance, the estate agent ‘sold’ its March 2020 receivable in exchange for an upfront sum paid in December 2019.

At the end of March 2020, the agent then said it was unable to repay the factor the money (or any of it, despite banking it for themselves at the end of March) “because of Covid-19“.

Factoring ‘discounts’ the purchase price of the receivable. The price paid upfront in December 2019, was based upon the time value of money with the expectations that the funds would be banked in March 2020. Obviously, the funds do not have the same value if the funds are not banked until June or later.

The agent is a well known agent from WA.

If a crime was committed, it was a crime of fraudulent appropriation. Alternatively, as was pointed out to the agent in collections discussions, the agent runs the very real risk that the estate agent continues to trade whilst insolvent, exposing the directors to personal liability. In those instances the agent’s personal assets are exposed to creditors.

If your business is in a similar position, being unable to meet obligations to creditors, there are some important steps that you and your company need to take to protect your personal AND business assets. These can be discussed on 1300-327123 if you find yourself if this position (call anytime till late 5 days).

Posted on 20 December 201920 September 2020 by Mark Smith — Leave a comment

Groundhog day for dwadvisory.com.au, liquidators of 4 Bonny Glen companies + Caernarvon Cherry Pty Ltd class action update

Orange, 18 December 2019 (day 147)

Welcome to Day 147 since the Bonny Glen auctions where Bernard Hall seemingly purchased $8.2m of land from Bonny Glen liquidator’s dwadvisory.com.au.

Or so it seemed:

Bernard Hall – when $8m means $4m

But all was apparently not as it seemed?

As we’ve been reporting via this blog – for the last 147 days – the so called purchasers of $8.2m of property have failed to pay the balance of around $7.4m to the liquidators of the 4 Bonny Glen companies who auctioned those properties *.

And for 147 long days, the creditors of those companies (in liquidation), in particular the long-suffering business partner and brother of Bernard Hall (i.e. Tim Hall) must have felt like our poor Groundhog Day character.

So yesterday, just like the previous 146 days, we woke up and wondered if we’d be getting a new neighbour soon (Bernard is presently an adjoining landowner)? You may call this Groundhog Day?

A good question?

In case you don’t remember the movie Groundhog Day, here is the trailer for a laugh:

Anyway, the update for class action claimants is this:

As at this morning – just like the previous 147 days, we all woke up and wondered if we’d be getting a new neighbour (Bernard is presently an adjoining landowner)?

We all wondered for Bernard‘s brother and creditor Tim whether Bernard‘s company was ‘for real’.

Bona fide.

And yesterday, just like those 147 other previous days, still Bernard has not found the balance of $8.2m?

This must be embarrassing?

In closing, if you are interested in joining our class-action against Bernard‘s company Caernarvon Cherry Pty Ltd (and you think this is a sign that Bernard‘s company is weak) then please complete the form here:

https://www.dcpartners.solutions/2019/07/caernarvon-class-action/

or call us on 1300-327123 to discuss the nature of your exposure to the proposed Defendants.

Alternatively if you’d like to make an appointment to see Mark in Orange over Christmas to early New Year period, in Orange, please click this link:

Book appointment

Thanks for your interest, have a safe and Happy Christmas.

Yours faithfully,
Mark Smith, Director
DCP Litigation Holdings Pty Ltd

call 1300-327123 (till late)

* search records as at 17 December and 19 December 2019.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 15 November 201920 September 2020 by Mark Smith — Leave a comment

Bernard Hall – companies in liquidation

Company director Bernard Francis Hall has 4 companies now in liquidation.

These companies include:

All 4 companies have DW Advisory as liquidator.

Particulars of the liquidations, including the first report to creditors can be located on DW Advisory’s website here.

Despite having been appointed almost 2 months ago, DW Advisory has not realised 90% by value of the sale of the Bonny Glen partnership properties (according to title searches of 14 November 2019) auctioned in Orange on 24 July 2019.

We understand some of Bernard’s remaining companies continue to rent properties from the liquidator despite having contracts that required them to complete the sales in September 2019 – 2 months ago – still incomplete? An inspection of the title’s of the subject properties in the hands of the liquidator’s states:

“NO CERTIFICATE OF TITLE HAS ISSUED FOR THE CURRENT EDITION OF THIS FOLIO. CONTROL OF THE RIGHT TO DEAL IS HELD BY WESTPAC BANKING CORPORATION.”

We further understand there is an allegation that the liquidator has failed to collect 1 or more years rent from Bernard’s lessee company? Whilst there may be sound business reason for not collecting this rent from Bernard’s company (?), DCP sincerely hope the interests of all creditors (not just interests associated with Bernard Hall) are being protected by DW Advisory in their trusted role as liquidator? We understand complaints have been made about aspects of the liquidator’s conduct to date to bodies including ASIC and other regulators?

Below is a partial overview of the Hall families business structure.

Hall family tree of businesses

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Correct as at 14 November 2019.

Posted on 14 November 201920 September 2020 by Mark Smith — Leave a comment

Caernarvon Cherry Pty Ltd / cherry growers of Orange class action and litigation further update from DCP Litigation Holdings Pty Ltd

Thursday 14 November 2019, 5.50pm

Dear potential claimant,

Further to our class action potential claimants newsletter of late last week, we can now advise the following (also see our video) that, according to the attached title searches:

WCMBF Super Pty Ltd is bidder 23 from the auction held on 24 July 2019 in Orange.
The shareholders and members of WCMBF Super at Bernard and Fiona Hall.
Presuming WCMBF Super is the trustee of a super fund, it is assumed that its members are also Bernard and Fiona Hall who are in fact ‘trustees’ of funds within WCMBF.
As bidder 23, WCMBF bid the following sums:
- Melrose orchard, 253 Nancarrow Lane – bid $2.1m
- Brooklyn orchard, 135 Nancarrow Lane – bid $800,000
- Caernarvon shed, 474 Canobolas Rd, Orange – bid $2.2m
- Valley View shed, 305 Nancarrow Lane – bid $650,000
WCMBF, to the best of our knowledge, is NOT bidder 9 that bid $2.4m to purchase the Caernarvon orchard including homestead and dance hall.
As at 4.53pm today, below is the status of each of the above purchases:
- unsettled – Melrose orchard, 253 Nancarrow Lane – bid $2.1m – see title search.
- settled – Brooklyn orchard, 135 Nancarrow Lane – bid $800,000 – see title search.
- unsettled – Caernarvon shed, 474 Canobolas Rd, Orange – bid $2.2m – see title search.
- unsettled – Valley View shed, 305 Nancarrow Lane – bid $650,000 – see title search.
- unsettled – Caernarvon homestead and orchard, 474 Canobolas Rd, Orange – bid $2.4m – see title search.

The identity of the purchaser, seemingly being a superfund, suggests the purchases were not intended to be debt financed – super funds find it difficult to borrow funds even mortgages.

The failure of Bernard Hall’s trustee company to purchase those properties, after some 115 days being available to them to raise finances, which it was contracted to purchase suggests things are not good in the Hall camp ….

With:

4 related companies in liquidation,
a litigation war between Bernard and his family,
the failure to complete 4 out of 5 contracts* (with a $740,000 deposit seemingly at risk),
with a litigant seeking a judgment in the sum of around $620,000 and
other unknown issues under the surface,

suppliers and customers of Bernard’s company Caernarvon Cherry Pty Ltd, perhaps justifiably, may well have concerns about whether Caernarvon really is a going concern and long-term partner?

More detailed analysis will follow re what the above means (or may mean) to proposed class action participants.

More detailed information on the Hall’s is available on our webpages:

If you are interested in our class-action please complete the form here: https://www.dcpartners.solutions/2019/07/caernarvon-class-action/ and complete the participants form or call us to discuss the nature of your exposure to the proposed defendants.

Yours faithfully,

Mark Smith, Director

DCP Litigation Holdings Pty Ltd

call 1300-327123 (till late)

* records as at 4.53pm, 14 November 2019.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 8 November 201920 September 2020 by Mark Smith — Leave a comment

Fiona Hall (packing her bags) – profile

How does someone become a Nuffield Scholar?

… Get your bestie to write the application? Well that was Fiona Hall’s idea.

First, in mid 2014 she enquired with me whether I’d write the application for her (I didn’t and I am not her bestie).

Shortly thereafter the application was written by Mr Andrew Borrodell Gartrell (at the time a friend), the rest is history. To see Fiona’s email to me click here, to see Fiona’s email to Gartrell click here.

Fiona, wife of Bernard, is not a director of any of the Bonny Glen companies and held no direct financial interest in those properties.

Fiona however is a joint shareholder and director of Caernarvon Cherry Pty Ltd and other related companies.

As at 8 November 2019, she does not own any direct interest in the Caernarvon homestead, Caernarvon orchard or Caernarvon shed.

Below is parts of the Hall’s family business structure and landholdings.

Hall family tree of businesses

Below is Fiona’s speech at the Nuffield Australia National Conference 2016 via Youtube.

Here Fiona ‘champions’ access for growers to data.

It will be interesting to see Fiona’s approach and response to subpoenas – should they be issued – in the proposed class action by cherry growers.

Another video interview by Fiona discussing the need for farm profitability. Caernarvon is well known as having delivered ‘bills’ to fruit growers who sent their fruit to Caernarvon to be packed and sold, i.e. the net return to the grower was negative after deducting Caernarvon’s packing and marketing costs and the fruit ‘sold’. It is unclear whether Caernarvon has at all times complied with the Horticultural Code of Conduct?

If you have any comments or information about Bernard & Fiona Hall, we’d love to hear from you including any documents via the instant chats below, through the below form or by phone on 1300-327123.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 8 November 201920 September 2020 by Mark Smith — Leave a comment

Bernard Hall – updated profile

Bernard Hall splashes out $8.2m (but fails to complete) – and as at 14 November 2019 – his companies still had only completed 1 of 5 purchases … 90% of the purchase prices still remains unpaid. Moreover, 4 of Bernard’s companies are now in liquidation, yet despite this the liquidators seem in no hurry to, well, liquidate those 4 companies or their millions of dollars of real estate.

It seems a key assumption by Bernard Hall may be in error. Bernard is quoted by the Central Western Daily as indicating a belief that he only needed to find the ‘other half’ of the equity he didn’t presently own in the Bonny Glen properties.

Bernard Hall – when $8m means $4m

More than 106 days after the auction (as at 8 November 2019), Bernard and his company’s have failed to complete the purchase of 4 of the 5 Bonny Glen properties he bid to purchase at a cost of $8.15m.

In early November 2019, a notice to complete under those 4 incomplete contracts has been issued upon Bernard Hall making completion, at a final price of about $7.4m, time being of the essence, essential by the close of business on 14 November 2019. As at the close of business on that day (yesterday), Bernard’s purchasing companies had failed to complete.

Bernard, husband of Fiona, is a director of the Bonny Glen companies (in liquidation) and holds a direct financial interest in those properties.

Despite this, it is believed that Bernard cannot simply transfer those interests to the purchasing vehicles, he had to complete the purchase contracts (it is believed) hence the notices to complete.

It would appear from Bernard’s quotes (see article above) he believed he could merely just pay a top up sum to buy out his brother and parents from the properties? Did his Nuffield Scholar wife also hold this belief?

Bernard (with Fiona) is a joint shareholder and director of Caernarvon Cherry Pty Ltd and other related companies.

The family tree of the Bonny Glen and Hall family/s is below:

Hall family tree of businesses

If you have any comments or information about Bernard & Fiona Hall, we’d love to hear from you including any documents using our instant chat, the below form or by phone on 1300-327123.

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 8 November 201920 September 2020 by Mark Smith — Leave a comment

Bernard & Fiona Hall – property holdings

Bernard & Fiona Hall, directly or indirectly (as at 8 November 2019) have interests in the following properties (subject to change).

At auction in Orange on 24 July 2019, Bernard Hall bid to purchase all 5 of the above properties.

Bernard has thus far (as at 8 November 2019) only completed the purchase of Brooklyn with a further $7.35m outstanding to purchase the above excluding Brooklyn.

Subject to orders of the NSW Supreme Court, these properties are in the process of being sold.

It is understood that a notice to complete has been served upon Bernard requiring him or his purchasing entities to complete the settlement of the 4 remaining properties by the close of business on 14 November 2019. The possible ramifications of failing to complete are discussed here.

For more information – chat with us live using our instant chat tools (bottom corners), book an appointment or call now on 1300-327123 (till late).

To contact us with any tip-offs, files or information – please use the instant chat tools or form below:

Posted on 6 November 2019 by Mark Smith — Leave a comment

Hakan Kutup charged with fraud and forgery, appears in court

Hakan Kutup, a former Century 21 real estate agent appeared yesterday in the Wollongong Local Court. Hakan, of 24 Stradbroke St, Shell Cove, has been the subject of other posts here on this website. Hakan appeared in court charged in relation to 27 counts involving fraud, forgeries or conversion of money but we understand this number may increase?

How was Hakan Kutup able to carry out alleged crimes?

Mark Smith, Director of DC Partners was engaged after the alleged frauds were discovered by the victim, a local funds manager in Sydney.

Mark is the person who reported the matters to NSW Police and NSW Fairtrading.

Mark believe’s that NSW Fairtrading may have been negligent and is co-ordinating a class-action for potential victims of Hakan Kutup. Class-action participants could include victims of Hakan’s company formerly Century 21 Ultimate Real Estate in Wollongong.

Mark alleges NSW Fairtrading knew or ought to have known about complaints about Hakan Kutup stretching back perhaps more than a decade and failed to investigate.

Mark is organising for those who are interested in joining a class action against the NSW Fairtrading and invites anyone who has lost money – no matter how small to complete the form below.

Interestingly, the Illawarra Mercury / Daily Telegraph hint at potentially more charges against the Kutup family. It is thought these may relate to the operations of a sales trust by Hakan Kutup? These publications quote the court that there was uncovered “misappropriated funds” in the sum of $220,515 from a Sales Trust account.

DC Partners is keen to talk to or help any persons that have had negative dealings with the Kutup family now matter how old or recently – please complete our contact form below (joining the class action is optional):

NSW Fairtrading class action

join

Name
First Last
Business name / property name*
Address
Street Address Address Line 2 City State / Province / Region ZIP / Postal Code Country
Phone*
Email*
Consent*
I express interest in the DCPLH v NSW Fairtrading proposed class action
I wish to receive further information so that I can consider joining the class action and receiving litigation funding.

Who is Hakan Kutup?

Hakan is:

the father of Jeyda Kutup (an estate agent and purported Instagram influencer in the Wollongong area),
brother of Allan Kutup (a presently still licensed real estate agent in the Wollongong area) and
uncle to Eren Kutup.

Eren and Allan are directors of EK Property Group Pty Ltd, a seemingly unlicensed real estate agent (??? more to come on this front shortly – watch this space) and mortgage broker also operating in the Wollongong area.

Receivers have recently been appointed to EK Property Group over the sum of $600k said to be owed to the above Sydney based money lender (presently before the Sydney District Court, Civil division). Eren & Jeyda are also personally being sued by the money lender.

If readers have other information on the Kutup’s please feel free to complete the below form or email any tips to: mark@markjsmith.com or call 1300-327123 (7 days till late).