Why ASIC’s gunning for Victorian liquidator
ASIC’s pursuit of a Federal Court inquiry into Ross McDermott is focussed on determining whether the Victorian insolvency practitioner (IP) faithfully fulfilled his obligations in terms of his duties and entitlements across 26 companies. However apart from listing the 26 companies across four schedules ASIC’s originating process doesn’t give much away. The inquiry sought falls under under Sections 536 and 477 of the Corporations Act…