Sydney liquidator agrees to cancellation of registration

ASIC has accepted an enforceable undertaking from Arthur John Forrest, a Sydney-based liquidator, who has agreed to ASIC cancelling his registration.

Following an ASIC review of incomplete external administrations which Mr Forrest managed, ASIC found Mr Forrest failed to carry out or properly perform his duties.

ASIC Senior Executive Leader - Insolvency Practitioners, Adrian Brown, said insolvency practitioners, who cannot meet their statutory obligations as well as maintain professional standards to an adequate level, should seek assistance from the Insolvency Practitioners Association of Australia, their professional accounting body or from ASIC.

Further details are available here.

The IPA notes that Mr Forrest is not a present or past member of the IPA.