Discipline

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…


AFSA acts after court suspends liquidator

Macks Advisory’s Peter Macks. AFSA deputy ceo Gavin McCosker Adelaide resident and insolvency practitioner Peter Macks would no doubt have anticipated this week’s announcement by the Australian Financial Security Authority (AFSA) advising that it had sent him to the naughty corner. It was less than a fortnight ago that a judge of the Supreme Court of South Australia suspended Macks’ registration as a liquidator for…


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…


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…


Ex-liquidator pleads guilty to fraud and dishonesty

Amanda Young at the NSW Supreme Court. 10 months after being charged with multiple criminal offences, former Jirsch Sutherland partner and struck-off liquidator Amanda Young has pleaded guilty to one charge of fraud and one count of dishonesty. Young pleaded guilty in the NSW Local Court on January 19, 2021. She will return to the NSW District Court ahead of sentencing on February 26. Her…


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…


ARITA expels member Steve Naidenov

Expelled from ARITA – Aston Chace principal Steve Naidenov. Aston Chace principal Steve Naidenov has been expelled from ARITA after failing to provide responses that the peak insolvency and restructuring organisation found satisfactory. In a short statement published this morning ARITA said Naidenov’s membership was terminated yesterday after he failed “…to provide a reasonable response to ARITA’s inquiries regarding his conduct in relation to a…


Conflict concern over ARITA director referral

Katherine Barnet leaving the Supreme Court Photo: iNO Images Liquidator Kate Barnet has taken leave of absence from her role as a director of the board of the Australian Restructuring, Insolvency & Turnaround Association (ARITA) following her referral to a s40-45 disciplinary committee by ASIC. As was first reported last week in Insolvency News Online (iNO) Barnet and former Bentleys colleague Bill Fletcher were referred…


Struck off liquidator facing criminal charges

Amanda Young. Struck off liquidator Amanda Young could be gaoled for up to 10 years following the commencement of criminal proceedings relating to almost $240,000 the 40 year old accountant is alleged to have misappropriated whilst working at mid-tier insolvency firm Jirsch Sutherland. Young was issued a summons in respect of the alleged criminal offences in April this year and the matter came before a…


Ex-Jirsch partner tricked brother into signing cheques

Amanda Young. Former Jirsch Sutherland partner Amanda Young allegedly tricked her brother into signing cheques drawn on a liquidation account then deposited the funds into three of her personal credit card accounts, a disciplinary committee has found. Young allegedly deceived her older brother, Jirsch Sutherland partner Sule Arnautovic, by presenting him with multiple cheques to sign in his capacity as liquidator of the St Gregory’s…