ASIC has suspended the registration of Ms Amanda Young as a liquidator indefinitely, with effect from 18 December 2018.
The suspension was granted after an application from Ms Young.
Ms Young has resigned all her external administration appointments and replacement external administrators have been appointed following orders by Justice Black of the Supreme Court of New South Wales on 14 December 2018. His Honour’s judgment is here.
The orders were granted on the application of various partners from Jirsch Sutherland, the practice at which Ms Young was most recently employed, who have since been appointed as the external administrators to 22 companies where Ms Young had been the sole appointee.
ASIC has been in discussions with Jirsch Sutherland about these proceedings and, in addition to the orders made by the Court, has taken steps to ensure:
- an independent reviewer agreed with ASIC is appointed, at Jirsch Sutherland’s expense; and
- creditors of all administrations will receive a communication from Jirsch Sutherland fairly disclosing the circumstances of the change in liquidators.
ASIC has separately commenced an investigation into matters relating to Ms Young’s former administrations and can make no further comment at this time.
On 20 December 2018, the New South Wales Supreme Court made orders, upon the application of ASIC, restraining Ms Young from leaving Australia and requiring her to deliver up her passport to the Court.