About Sam

Sam specialises in insolvency and restructuring, working with clients in all aspects of external administrations, security enforcement and insolvency dispute resolution. He has acted for clients in a wide range of industries in large scale court proceedings involving complicated insolvency issues and Personal Property Securities Act 2009 (Cth) claims.

Sam also has extensive experience in a diverse range of regulatory issues and investigations, including dealings with regulatory bodies like ASIC and AFCA. He has detailed experience in Royal Commissions and was previously the Principal Legal Officer of the Queensland Racing Commission of Inquiry.


  • Australia Post investigation

    Joint lead Partner assisting the Department of Infrastructure, Transport, Regional Development and Communications and the Department of Finance to conduct a formal investigation into the provision of Cartier watches to Australia Post executives. The investigation considered issues such as:

    • the obligations of Australia Post as a Government Business Enterprise, including under its enabling legislation, the Australian Postal Corporation Act 1989 and the Public Governance, Performance and Accountability Act 2013 and related legislation;
    • the levels of understanding of the current and former Board members of Australia Post’s obligations;
    • the adequacy of Australia Post’s governance arrangements and system of internal controls; and
    • potentially instances of credit card usage that may be inconsistent with public expectations and Australia Post’s policies.
  • Financial services

    Advising in all aspects of the liquidation of AGM Markets Pty Ltd (In Liquidation), a former financial services provider offering offered over-the-counter derivative products to retail investors, in relation to issues such as the assessment of investors’ claims, communications with creditors and Privacy Act 1988 (Cth) issues (see for example In the matter of OT Markets Pty Ltd (in liquidation) [2020] FCA 207 and ASIC v AGM Markets Pty Ltd (in liquidation) (No 4) [2020] FCA 1499).

  • Insolvency in the Construction industry

    Acting for various Watpac entities in relation to claims brought against approximately 30 principal contractors by the liquidators of various Hastie Group entities. The proceedings involve complicated insolvency and construction issues relating to set-off and the interaction of provisions of the Corporations Act 2001 (Cth) Personal Property Securities Act 2009 (Cth) (see for example Hastie Group Limited (in liq) v Multiplex Constructions Pty Ltd & others [2020] FCA 1824).

  • Complicated insolvency litigation

    Acting for the liquidators and special purpose receivers of Banksia Securities Limited (Banksia). Banksia operated as a non-bank lender and raised monies from the public by issuing debentures to investors pursuant to prospectuses and advanced funds raised to third party borrowers for property investment and development purposes. At the time of its collapse, Banksia owed approximately $663 million to approximately 15,622 debenture-holders and had 956 loans outstanding totalling approximately $527 million. Sam has advised in all aspects of the liquidation and special purpose receivership, including in relation to issues such as:

    • High Court proceedings (see Australian Funding Partners Ltd v Botsman & Ors [2019] HCATrans 102)
    • complicated applications seeking approval for remuneration (see for example Banksia Securities Limited [2019] NSWSC 1899)
    • Court approval for settlement of claims intersecting with group proceedings (class actions) (see for example Banksia Securities Limited [2018] VSCA 348)
    • class action issues and litigation funding claims, including in relation to serious misconduct allegations and breaches of the Civil Procedure Act (see for example Banksia Securities Limited [2019] VSC 653)
    • recovery of compensation and costs from non-parties (see for example Banksia Securities Limited [2020] VSC 567)
    • insurance claims, including claims against insurance brokers (see for example Banksia Securities Limited [2020] VSC 123).
  • "Sam is personable in nature and possesses analytical and communication skills that are first class. "

    Nicholas Giasoumi

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