ASIC cancels Cairns liquidator’s registration


The registration of Mr Justin James Cadman as a registered liquidator was cancelled on 13 June 2018 following orders made on 8 June 2018 in the Federal Circuit Court of Australia, which resulted in Mr Cadman being declared bankrupt (an insolvent under administration), the Australian regulator ASIC announced earlier today.

On 19 June 2018, ASIC appointed replacement liquidators to the fifteen (15) vacant external administrations previously administered by Mr Cadman.

John Price ASIC
John Price, ASIC

ASIC Commissioner John Price said:

ASIC has moved quickly to exercise the new powers under the insolvency regime to appoint a replacement liquidator and appreciates the assistance of the replacement liquidators Ms Moira Carter of BRI Ferrier NQ and Mr Todd Kelly of BDO (Nth QLD).

Below is a list of the external administrations and replacement liquidator’s contact details should creditors have any concerns.

Ms Moira Carter of BRI Ferrier NQ Phone (07) 4037 7000

  • Australian Vocational Learning Institute Pty Ltd ACN 097 453 828
  • Cairns Accident Repair Centre Pty Ltd ACN 077 729 367
  • Medisurg Pty Ltd ACN 113 077 982
  • MOJB Pty Ltd ACN 128 137 806
  • Phone Hospital Pty Limited ACN 112 320 386
  • Sinopoli Holdings Pty Limited ACN 107 341 499
  • Zanzoo Tiles Pty Ltd ACN 142 521 695

Mr Todd Kelly of BDO (Nth QLD) Phone (07) 4046 0000

  • Aborigines and Islanders Alcohol Relief Service Ltd ACN 010 064 374
  • Margach Builders Pty Ltd ACN 078 363 729
  • Barrier Leasing Pty Ltd ACN 104 014 002
  • Barrier Air Charter Pty Ltd ACN 108 788 147
  • Barrier Air Services Pty Ltd ACN 104 014 011
  • Barrier Aviation Pty Ltd ACN 056 643 531
  • Davryl Holdings Pty Ltd ACN 108 502 165
  • Lip-Air Pty Limited ACN 068 117 537

Background

Cairns-based Mr Cadman operated an insolvency and accounting practice firstly through a company called Mclaren Knight Pty Ltd (in liquidation), then later through another company called Mclaren Knight International Pty Ltd.

Mr Cadman had been a registered liquidator since August 2005.

Under section 40-20(1) of Schedule 2 (Schedule 2) of the Corporations Act 2001, a liquidator’s registration as a registered liquidator is automatically cancelled if a person becomes an insolvent under administration. Under section 40-111 of Schedule 2, ASIC may appoint another liquidator if a liquidator’s registration is suspended or cancelled. These new laws came into effect on 1 March 2017.

ASIC’s Regulatory Guide 258 Registered Liquidators: Registration, disciplinary actions and insurance requirements outlines the ongoing obligations of registered liquidators under the Corporations Act 2001, and ASIC’s approach to what a person must do to remain a registered liquidator.

Related News

arrow

ASIC cancels Cairns liquidator’s registration

3

Send this to a friend

Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: