asic on urgency slope

Or: Where were U when we needed U?

ASIC asks Federal Court to sack Walton Construction liquidator

Date December 24, 2013

Ben Butler and Chris Vedelago

The corporate regulator has asked a court to kick veteran insolvency practitioner Stirling Horne out of his role as liquidator of collapsed builder Walton Construction after accusing him of failing to disclose a perceived conflict of interest.

Mr Horne and his colleagues, Glenn Franklin and Jason Stone, breached a section of the Corporations Act that can attract criminal prosecution, the Australian Securities and Investments Commission alleges in an application filed with the Federal Court.

Read more: http://www.smh.com.au/business/asic-asks-federal-court-to-sack-walton-construction-liquidator-20131223-2zulg.html#ixzz2oPXY5wSH