Duncan and A committee convened under section 40-45 of the Insolvency Practice Schedule (Corporations)

This matter concerned an application by Mr Duncan for review of a decision made by a committee convened under sections 40-45 of the Insolvency Practice Schedule (Corporations) to cancel his registration as a liquidator. The dispute centred on whether Mr Duncan met the prescribed requirements for registration as an insolvency practitioner. The review was heard by Deputy President Bernard J McCabe.

The legal issues before the court were whether Mr Duncan possessed the requisite qualifications, experience, knowledge, and abilities as prescribed by the Insolvency Practice Schedule (Corporations) and the Insolvency Practice Rules (Corporations) 2016. Specifically, the court had to consider the requirements relating to academic qualifications in commercial law and accounting, accredited course units in external administration, and the number of hours of relevant senior-level employment within the five years preceding his application. The court also had to determine if Mr Duncan demonstrated the capacity to perform the functions of a registered liquidator satisfactorily and if he could satisfy any conditions imposed upon his registration.

Deputy President McCabe reasoned that, based on the material before him, Mr Duncan appeared to possess the appropriate level of knowledge and expertise. The court analysed the relevant provisions of the Insolvency Practice Schedule and the Insolvency Practice Rules, which set out the criteria for registration. The court found that Mr Duncan met the prescribed academic and experience requirements, including the completion of tertiary qualifications and accredited course units, and had accumulated the necessary hours of relevant employment at a senior level. The court was satisfied that Mr Duncan demonstrated the capacity to perform the functions of a registered liquidator.

The court set aside the decision of the committee and ordered in substitution that Mr Duncan's registration as a liquidator be reinstated, subject to specific conditions. The court noted that there was no suggestion of any wrongdoing or professional malfeasance on Mr Duncan's part, and that his reputation as an insolvency practitioner was good.