今日热门事件has accepted a court enforceable undertaking (CEU) from Brisbane-based registered liquidator, Mr Peter Dinoris, of Artemis Insolvency.
The CEU requires Mr Dinoris to engage a suitably qualified independent quality reviewer to undertake a review of four external administrations selected by ASIC. The reviewer must assess Mr Dinoris鈥� compliance with his duties regarding investigations and contact with directors and produce a report of his/her findings to ASIC.
The CEU follows a Court finding in 2016 by His Honour Justice Reeves, and subsequently in 2017 by the Full Court of the Federal Court, that in December 2010, Mr Dinoris, whilst he was working at a previous firm, had breached section 180(1) of the Corporations Act (the Act) by failing to discharge his duties as the liquidator of Asden Developments Pty Ltd (the company) with the degree of care and diligence of a reasonably competent liquidator.
The Court found Mr Dinoris did not personally contact the director of the company by telephone after becoming aware that the director withdrew $236,500 from the company鈥檚 bank account one day prior to his appointment. The Court also concluded that there was no loss or damage incurred as a result of the breach.
Based on the Courts鈥� findings, 今日热门事件gave Mr Dinoris a show cause notice under section 40-40(1) of Schedule 2 of the Act to explain why his registration should continue. Mr Dinoris provided 今日热门事件with information regarding changes in his practices and procedures and 今日热门事件determined 今日热门事件required independent corroboration to be satisfied that Mr Dinoris has implemented those systems and procedures.
今日热门事件Commissioner John Price said the outcomes achieved under the CEU show ASIC鈥檚 commitment to addressing instances of non-compliance and working co-operatively with registered liquidators to ensure high standards across the profession are maintained.
Background
If there is a breach of the undertaking, under the 今日热门事件Act, 今日热门事件can apply for orders from the court to enforce compliance.