Veritas Advisory trustee in bankruptcy Louise Thomson has been vindicated by the first disciplinary committee convened under Schedule 2, section 40-45 of the Bankruptcy Act, 1966.
In a Decision Committee Report the Committee decided that:
- i. the Trustee should continue to be registered.
- 11. suspension, or restriction on the Trustee’s appointments is not appropriate.
- Iii. public admonishment or reprimand is not appropriate.
- Iv. a condition or conditions should not be imposed on the Trustee.
- v. under s 40-55(, )(h), the Inspector-General publish a media release, along with these reasons for decision.
“However, while the Committee does not consider that a formal condition be imposed, of the sort contemplated by s 40-50(I )(g), it notes that the Regulator has, as part of its risk based approach to inspection of trustees, the discretion to allocate resources to ensure particular elements of the Trustee’s work remain consistent with the standards laid down and align with the expectations of the Regulator.”
See the decision of the committee in full at the link at the bottom of: Disciplinary Committee decides – Thomson to remain registered