Blair Pleash.
Somewhere inside ASIC’s Kafka-esque labyrinth of process, zeal’s found a foothold.
Since the beginning of the year there’s been three referrals to Schedule 2 Disciplinary Committees of registered liquidators who’ve failed to satisfy concerns outlined in Show Cause Notices.
Prior to 2026, two years passed without any. Now three in nine months?
If that’s not evidence of zeal then Australia Post’s not delivering on its timely manner promise.
Regardless it means the Disciplinary Committee convened to rule on practitioner conduct issues currently has two matters on its plate, the latest involving Hall Chadwick veteran Blair Pleash.
ASIC referred Pleash to a committee on September 17, alleging misconduct on that basis that “the liquidator has failed to carry out adequately and properly (whether in Australia or in an external Territory or in a foreign country):
(i) the duties of a liquidator; or
(ii) any other duties or functions that a registered liquidator is required to carry out under a law of the Commonwealth or of a State or Territory, or the general law.”
We asked the Hall Chadwick lifer – Pleash commenced his career at the controversial fee engine in 1998 – what matter or matters the Show Cause notice referred to and sought his confirmation that he’d be defending himself at the hearing.
As there was no response prior to our publication deadline we can only speculate and in doing so zeroed in on the matter of SFG Relocations Pty Ltd, to which Pleash was appointed liquidator by court order on July 9, 2021.
At the time Pleash boldly estimated that the liquidation would complete in July 2023. That’s since been extended to December this year.
Along the way Pleash’s remuneration and expenses have swallowed more than 70 per cent of total realisations, thanks in part to a 10 per cent annual fee escalator compounding merrily since being approved at the first meeting of creditors on October 7, 2021.
Not that there’s anything wrong with a resolution properly approved and ASIC’s beef with Pleash may relate to a different appointment entirely.
One thing is known and that is that unless ASIC’s new found zeal infects the committee members, Pleash, and iNO, might wait a while for a determination.
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