The sentencing of former liquidator Peter Amos was on 13 September adjourned to Friday 29 November 2024.
The sort of issues raised by Amos in relation to his sentence are explained in Peter Gosnell’s Insolvency News Online: Amos tells court he was to anxious to ask creditors for cash (insolvencynewsonline.com.au).
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On 5 August 2024, Judge Robyn Tupman of the NSW District Court further adjourned the sentencing hearing of former liquidator Mr Peter Amos to 10 September 2024.
A case management hearing for Mr Paul Leroy in the Federal Court on 9 August did not eventuate and the hearing is now shown by the Court as being on 20 September 2024, at 9.30am.
Peter Amos
23-347MR Former registered liquidator pleads guilty to dishonest conduct | ASIC
Mr Amos has pleaded guilty to charges under the Corporations Act involving companies to which he was appointed and from which he unlawfully transferred funds totaling close to $2.5 million.
While such dishonesty is relatively rare among insolvency practitioners, Amos’s prosecution coincides with the apparent loss of moneys in bankrupt estates to which Mr Paul Leroy was appointed. Trustee deregistered for failure to meet bankruptcy act standards | Australian Financial Security Authority (afsa.gov.au)
Paul Leroy
A Federal Court “case management hearing” in proceedings seeking to recover those moneys was (apparently) next in court on Friday 9 August, as ordered by Justice O’Callaghan on 11 June 2024. Somehow that hearing did not eventuate and the case management hearing is now shown by the Court as being on 20 September 2024, at 9.30am.
Neither ASIC nor AFSA, nor any of the relevant industry bodies, has fully commented on how these defalcations occurred despite their regulatory powers. Nor is it clear whether the adequate and appropriate professional indemnity insurance and the fidelity insurance required of all insolvency practitioners will assist.
See also Insolvency practitioners and missing moneys – on-line regulation required – Murrays Legal
One Response
External administrators are gatekeepers of public policy and fiduciaries holding great powers and duties. To misappropriate moneys under their control apart from being a crime is an absolute breach of the trust under which they act and requires serious attention