Former liquidator’s banning reduced by agreement with ASIC – Mr Paul Pattison

By way of background, ASIC had banned Mr Pattison in January 2013 for four years following orders made on 17 December 2012 in the Federal Court of Australia, which resulted in Mr Pattison becoming a bankrupt.

In a separate ASIC decision on 21 January 2013, Mr Pattison was disqualified from managing corporations for four years following ASIC enquiries into three failed companies of which he was the sole director.

In March 2013 Mr Pattison applied to the Administrative Appeals Tribunal (AAT) to review ASIC’s decision.  Some 15 months later, the hearing of the AAT application was commenced on 16 June 2014 but was not completed following agreement between the parties. On 20 June 2104, with consent of the parties, the AAT made orders reducing the period of disqualification to three years ending on 21 January 2016.

ARITA had previously reported that in accordance with clause 16.3(b) of the then IPA Constitution, Mr Pattison’s IPA membership was automatically terminated on 23 April 2012 following the termination of his registration as a trustee in bankruptcy by ITSA, now AFSA.  This arose from a finding of a disciplinary committee convened under the Bankruptcy Act. 

The IPA Board resolved to report this ARITA decision and its reasons in accordance with IPA Regulation 25.