ASIC acts against Melbourne liquidator

The Australian Securities and Investments Commission (ASIC) has announced has applied to the Federal Court in Melbourne to inquire into the conduct of Melbourne liquidator, Andrew Leonard Dunner, concerning the performance of his duties as a registered and official liquidator and as a receiver or manager of a total of eleven companies to which he has been appointed.

ASIC is seeking orders that Mr Dunner be prohibited from holding the office of liquidator, provisional liquidator, voluntary administrator or administrator of a deed of company arrangement for such period as the Court sees fit, or alternatively, to declare there are grounds for the cancellation of Mr Dunner's registration as an official liquidator.

Further, ASIC is seeking orders to pay into Court any remuneration received by him in his role as the registered and official liquidator of eight companies if the court finds that the remuneration was paid:

  • without proper approval of the creditors, a court or a committee of inspection; or
  • for work performed outside the period of the relevant liquidation; or
  • where the remuneration was not validly determined or fixed under the Act.

Mr Dunner notified ASIC of his resignation as liquidator of the three companies connected with the application where the liquidations are ongoing:

  • Red Earth Facade Systems Pty Ltd, Rayunit Pty Ltd and Emberford Pty Ltd.

Justice Middleton ordered that:

  • James Downey be appointed as liquidator of Red Earth Facade Systems, Rayunit and Emberford;
  • Mr Dunner file any response to ASIC's allegations by 11 July 2012;

The matter be listed for further directions on 13 July 2012.

Findlaw

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