ASIC brought proceedings under s 45-1 of the Insolvency Practice Schedule (Corporations) alleging senior and experienced liquidator Jason Bettles engaged in “conduct so gross a departure from, and abrogation of, the duties of a registered liquidator, as to warrant” both the cancellation of his registration as a liquidator and a lifetime prohibition from reapplying for registration.
This complex dispute resulted in a decision running to 888 paragraphs. It deals with the general law and statutory duties of liquidators and includes eight generic duties of liquidators.
The proceedings were dismissed.
Paul McQuade KC (leading Angus O’Brien and Jade Marr) appeared for the defendant, instructed by Norton Rose Fulbright.
The judgment is available here.