Following an application to the Administrative Appeals Tribunal (AAT) for review of a liquidator’s Disciplinary Committee’s decision, the AAT has decided that Cameron Lindsay Duncan’s liquidator registration should be reinstated, subject to conditions, for such time as he remains a non-resident of Australia. 

Mr Duncan applied to the AAT for a review of the Committee’s decision dated 28 February 2023 to cancel his registration (refer 23-065MR). 

In summary the conditions imposed by the AAT are: 

1. Mr Duncan can only accept Australian appointments on a joint and several basis with an Australian registered liquidator;
2. Mr Duncan must retain an Australian solicitor to accept service on his behalf of Court documents, statutory notices and/or directions, and Mr Duncan will comply with such notices and/or directions;
3. If Mr Duncan is overseas but is required to be present in Australia by either a Court or by ASIC, he will return to Australia within seven days or within such other time period as agreed by ASIC. Or, if Mr Duncan is unable to return, he will make himself available by video or other visual electronic means;
4. When consenting to act in an external administration Mr Duncan must notify the appointor and creditors of his country of residency and his location, and must notify of any change in location;
5. Mr Duncan must take all possible steps to ensure his firm KordaMentha:
   1. maintains in Australia (or at some other location agreed with ASIC) all books and records in relation to external administration appointments concerning an Australian registered company, along with the company’s pre appointment records and KordaMentha’s records;
   2. has an Australian telephone number at which he can be contacted;
6. Mr Duncan must open and maintain any bank accounts for Australian external administrations in Australia, and monies received from Australian appointments shall be paid into the Australian accounts;
7. Prior to accepting his first external administration appointment in Australia Mr Duncan will provide ASIC with evidence that KordaMentha has entered into a licence agreement with an Australian specialist insolvency software provider and has precedents which conform with Australian law;
8. Mr Duncan will maintain residency in Singapore and/or Australia, or such other location as agreed by ASIC;
9. Mr Duncan will not seek to recover travel costs to Australia against the company to which he has been appointed; and
10. Mr Duncan will be physically present in Australia for any second meeting of creditors in a voluntary administration of an Australian registered company to which he has been appointed, where the majority of creditors by number and value are in Australia. 

In his reasons for decision, Deputy President McCabe stated he was satisfied that Mr Duncan did have the adequate knowledge and experience to remain registered as a liquidator.   

View the AAT’s decision.

Background

ASIC’s referral to the Committee alleged Mr Duncan no longer had the qualifications, experience, knowledge and abilities prescribed under the Corporations Act, and that he is not a resident in Australia or another prescribed country. The Committee’s decision was based on the first of those allegations.