Bankruptcy trustee axed by AFSA

Louise Thomson – Bankruptcy trustee’s registration cancelled. The registration of NSW-based bankruptcy trustee Louise Thomson has been cancelled on the recommendation of a committee convened to investigate allegations of conflict of interest. In a statement issued yesterday AFSA said that in 2019 its staff had “investigated instances of misconduct that called into question Thomson’s independence, judgement and general suitability to remain registered as a trustee.”…

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AFSA judging trustees’ referrers for worthiness

Has any insolvency practitioner ever said: there’s never been a better time to be a gatekeeper of the financial system? If so, they are probably long since retired. In this day and age, regulators are at risk of turning the gatekeepers into turnkeys, if not inmates. For the source of our cynicism, we refer to the contents of a letter, dredged from the toxic silts…