Individuals and businesses planning to lodge a submission to the Liquidators and Administrators Senate Inquiry are urged to get their submissions in before the end of this week.The Nationals Senator for New South Wales John Williams, a member of the Economics References Committee, initiated the inquiry at the end of last year after he was made aware of problems faced by a number of individuals and businesses.
“It is obvious from the submissions received so far that people have had troubled times dealing with liquidators and in many cases with ASIC.
Only this week we learnt that another liquidator in Victoria has had his registration suspended for 18 months for failing to properly carry out his professional duties.
It appears the insolvency industry may need a real shake-up because people are viewing it with great scepticism”, Senator Williams said.
Submissions need to be lodged this Friday at http://www.aph.gov.au/Senate/committee/economics_ctte/liquidators_09/index.htm and the first public hearing will be conducted on the 12th of March.