Discipline

Indemnity costs awarded against retentive liquidator

Pitt Street liquidator Jamieson Louttit has avoided the full wrath of an adverse order – kind of – after a judge ruled that indemnity costs should not be applied to two days spent hearing an application launched in April against Louttit by the king of encaffeination, Les Schirato. In a judgment handed down last week NSW Supreme Court judge Ashley Black signalled that Schirato – in his capacity as director…

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Ray Sutcliffe rubbed out for three minimum

ASIC stamps out Victorian liquidator Ray Sutcliffe

The liquidator regulator continues to use non-compliance as a means by which to cull under-performers and this week it was Raymond Anthony Sutcliffe offering up a mea culpa in the form of an enforceable undertaking (EU) that effectively benches the Melbournian for a minimum three years effective from June 28, 2017. According to the ASIC announcement the EU requires Sutcliffe to request that his registration be…