ASIC cancels Sydney liquidator’s registration

ASIC has accepted an enforceable undertaking from Sydney liquidator, Mr Geoffrey Stewart Turner, which prevents him from practising as a registered liquidator for life.

Following an ASIC review of 60 external administrations of which Mr Turner was the appointed external administrator, ASIC formed the view that Mr Turner failed to properly carry out his duties as a liquidator.

ASIC detected the matter through its proactive liquidator compliance program which identifies issues concerning competence, independence and improper gain for further investigation and enforcement action, if required.

More information is available here.