One bad interview before a disciplinary committee is all it takes to lose one’s registration as a liquidator.
Fortunately, one good performance before the Administrative Appeals Tribunal (AAT) is all it takes to have an order cancelling one’s registration overturned.
“the committee’s adverse decision appeared to be premised almost entirely on what it took to be Mr Duncan’s sub-optimal performance when questioned at their meeting” AAT Deputy President Bernard McCabe.
This is the only possible conclusion one can arrive at after reading Duncan and A committee convened under section 40-45 of the Insolvency Practice Schedule (Corporations) [2024] AATA 609, which details how KordaMentha’s main man in Singapore regained his liquidators registration last week after it was cancelled by a disciplinary committee.
Cameron Duncan challenged the committee’s decision in the AAT after it ruled in February 2023 that he no longer had the qualifications, experience, knowledge and abilities prescribed under the Corporations Act 2001 (the Act).
That ruling followed a referral from ASIC, which it appears had entertained growing concerns about Duncan’s ability to keep abreast of relevant legal and accounting developments in Australia whilst living in Singapore, where he is KordaMentha’s head of restructuring.
The AAT ruling by deputy president Bernard McCabe includes a reference to Duncan attending an interview with the Committee on January 23, 2023.
In the AAT proceedings Duncan’s counsel submitted that “the committee’s adverse decision appeared to be premised almost entirely on what it took to be Mr Duncan’s sub-optimal performance when questioned at their meeting”, McCabe said.
Needless to say, Duncan’s performance in the witness box at the tribunal, which included cross-examination by counsel for ASIC, must have been a much improved one to that witnessed by the three member disciplinary committee.
“At the conclusion of the cross-examination, Mr (Patrick) Knowles SC took instructions and acknowledged that Mr Duncan’s performance in the witness box demonstrated proficiency in areas of knowledge where the committee had previously found him deficient” McCabe said.
“He said he was unable to go any further and abandon ASIC’s contention that Mr Duncan did not have the experience and knowledge required given the underlying fact that Mr Duncan had been effectively out of any Australian insolvency practice for some years. The reluctance or inability to make that more generous concession was attributed to the fact ASIC was not formally the decision-maker.”
In summing up McCabe said that based on his observations of Duncan in the witness box and with the benefit of additional material that elaborated on his experience “I am satisfied Mr Duncan does have adequate knowledge and experience to remain registered as a liquidator”.
“While questions remain as to Mr Duncan’s residency status, the parties acknowledge any concerns can be adequately addressed through the imposition of conditions in an agreed form.
“I am therefore satisfied it is appropriate to set aside the decision cancelling Mr Duncan’s registration and restore it subject to conditions that relate to residency.”
Further reading:
Be the first to comment on "AAT cancels Committee’s cancellation order"