Joubert and Members of the Companies Auditors and Liquidators Disciplinary Board

This matter concerned a review of a decision by the Companies Auditors and Liquidators Disciplinary Board (the Board) to terminate Mr Joubert's registration as a liquidator. The dispute arose from allegations that Mr Joubert had failed to adequately and properly perform his duties as a liquidator, including failing to disclose relevant relationships, indemnities, and payments received, and failing to investigate the causes of company failures or implement adequate systems. The court was asked to determine whether Mr Joubert was a fit and proper person to remain registered as a liquidator.

The central legal issues before the court were whether Mr Joubert's conduct amounted to a failure to perform his duties adequately and properly, whether he had acted recklessly or dishonestly, and consequently, whether he was a fit and proper person to continue as a registered liquidator. This involved interpreting the meaning of "relationship" in the context of disclosure obligations under the Corporations Act 2001 (Cth) and assessing whether the failure to disclose certain relationships constituted dishonesty.

The court affirmed the Board's decision, finding that Mr Joubert had failed to perform his duties adequately and properly, demonstrating a lack of due care and diligence. The court considered that the failure to disclose relevant relationships, including indemnities and payments, amounted to dishonesty. While acknowledging that the impact of sanctions on Mr Joubert was a consideration, the court prioritised the public interest. Therefore, the Board's decision to terminate Mr Joubert's registration as a liquidator was affirmed.