11 October 2010
Jirsch Sutherland appointed as voluntary administrator of
Smith & Hall
Specialist insolvency, turnaround management and forensic accounting firm Jirsch
Sutherland has been appointed as Administrator of Smith & Hall and associated
companies*. Smith & Hall was a Sydney-based art gallery which offered art storage,
investment and art rental services.
Jirsch Sutherland Partner, Sule Arnautovic,was appointed as Administrator on
Thursday, 7 October 2010. The appointment was made by the company’s sole
director, Cameron Hunter Hall.
According to Mr Arnautovic there over 500 creditors and investors affected. The first
meetings of creditors of Smith & Hall and associated companies will take place at
9am on Tuesday, 19 October 2010 at the CTA Business Club, MLC Centre, Martin
Place Sydney.
Smith & Hall had a number of arms to its business, but in the first few days of
the administration Mr Arnautovic's investigations have revealed that a number
of investors may have suffered as a consequence of the companies’ actions.
It is by no means clear who owns many of the artworks the companies have in
its possession and Mr Arnautovic has stressed the importance of gathering as
much information as possible to assist him in unravelling the companies’
affairs.
Anyone who has any information about the businesses or who believes they
may have a claim against the companies should contact the administrator’s
office as soon as possible to assist them in working things out.
Formerly Galleries Direct, Smith & Hall was established in 2004. Smith & Hall
specialised in selling both Indigenous and non-indigenous Australian art.
*International Art Holdings Pty Ltd, GD Rentals Pty Ltd, Hunter Capital Pty Ltd,
Hunter Holdings (Australia) Pty Ltd, Smith & Hall Art Advisory Pty Ltd, Smith & Hall
Holdings Pty Ltd.
Established in 1984 with its HQ in Sydney, Jirsch Sutherland is a specialist
insolvency, turnaround management and forensic accounting firm. Jirsch Sutherland
services accounting, legal and finance firms as well as organisations across all
industry sectors. The firm conducts business in a fair and ethical way and have a
reputation for delivering results that work for all concerned
For further information or to speak with Sule Arnautovic:
Lisa Llewellyn
Llewellyn Communications
m: 0419 401 362
e: lisa@llewcom.com.au
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