ASIC

For Bettles or Worse ASIC seeks life ban

Worrells partner Jason Bettles. The corporate regulator has returned to the fray in its ongoing campaign to rub out Jason Bettles, calling for the Worrells partner to be stripped of his liquidator’s ticket and banned for life. In a 160 page Statement of Claim filed in the Federal Court last week, ASIC alleges that Bettles’ conduct in respect of the Members Alliance Group of Companies…


Macks cops 3 year suspension for dishonesty

Macks Advisory’s Peter Macks. A judge of the Supreme Court of South Australia has ordered that the registration of liquidator Peter Ivan Macks be suspended for three years after finding that he had fabricated documents in a failed bid to divert scrutiny of his conduct by the Australian Securities and Investments Commission (ASIC). The finding of dishonesty by Justice Sam Doyle handed down last Friday…


Hall Chadwick loses one trustee, gains another

Hall Chadwick’s new head of Personal Insolvency John Shanahan. Thinning liquidator ranks lose another: Kristen Beadle. As iNO reported elsewhere today, Melbourne-based Kristen Beadle has left Hall Chadwick and the insolvency profession to take up a role as manager public practice and SME with CPA Australia. iNO understands Beadle also intends to let lapse her registrations as a registered liquidator and trustee in bankruptcy. Hall…


Appointments plunge in 1st half FY 20/21 – Statistics

No 1 for 1st half 2020/2021 – Hamilton Murphy’s Stephen Dixon. Sivaa Consulting’s analysis of ASIC’s latest insolvency statistics are out and the ravages wrought by measures imposed to combat COVID 19 are plain to see with registered liquidators reporting average declines of 50 per cent in formal appointments for the first half of FY 2020/2021 compared to the previous corresponding period. 1,614 CVLs were…


ASIC retreats on bid to ban liquidator

Trajan John Kukulovski. Well a three year suspension sounds preferable to cancellation of one’s registration as a liquidator so iNO reckons there was cause for celebrations aplenty over Christmas in the household of John Kukulovski. Kukuwhoski you ask? For readers unaware of the object of iNO’s interest, we refer you to the public announcement of this great nation’s corporate regulator on January 13, 2021. On…


Respected liquidator dodges inquiry bullet, for now

Jones Partners’ Bruce Gleeson. Highly regarded Jones Partners’ principal Bruce Gleeson has dodged a bullet after NSW Supreme Court judge Ashley Black this week chose not to initiate an inquiry into his conduct as liquidator of Military History Tours Australia Pty Ltd (MHT), a company which offered travel to sites like Gallipoli until relations with Swiss-based cruise ship operator MSC Cruises SA soured in 2014….


Jirsch Sutherland’s new recruit can walk the walk

Jirsch Sutherland’s new recruit, Paul Pattison. Jirsch Sutherland may have lost a veteran partner with the departure next March of Sule Arnautovic but it’s recently gained a national business development manager, and if the firm wanted someone who can relate to business owners going through the wringer then who better than ex-liquidator and ex-trustee in bankruptcy Paul Pattison? About a decade ago, Victoria-based Pattison went…


Seize the pay! Liquidators exonerated as ASIC fails

Olvera Advisors’ Kate Barnet. Liquidator Bill Fletcher. Liquidators Kate Barnett and Bill Fletcher have been exonerated by a committee convened in July this year to consider contraventions ASIC alleged were perpetrated in the early days of the Octaviar liquidation. The allegations were brought to Barnett and Fletcher’s attention in show cause notices under section 40-40 of the Corporations Act issued by ASIC in 2019. After…


Ex-VA back as liquidator after incumbent ousted

DW Advisory’s Paul Weston. Worrells partner Simon Cathro. Paul Weston has been appointed liquidator of South Pelagic Holdings Pty Ltd at a meeting convened at the behest of creditors seeking to punt Worrells’ Simon Cathro, whom a court had in February appointed to replace the company’s then administrator, Weston. Independence breach you shrill? No. Not a bit of it. At least not according to Weston…


Liquidator faked memoranda to fool ASIC

Macks Advisory’s Peter Macks. South Australian liquidator Peter Macks faked documents in an attempt to foil an ASIC investigation, a court has found. In Australian Securities and Investments Commission v Peter Ivan Macks (No.4) [2020] SASC 209 South Australian Supreme Court judge Sam Doyle said Macks had acted dishonestly and for the purpose of deceiving ASIC in respect of a memoranda Macks provided to the…