ASIC has accepted Ross Stephen Thomson’s application for cancellation of his registration as a liquidator, after raising concerns about whether he was a fit and proper person to remain registered and whether he had adequate resources to satisfactorily perform his duties and functions as a registered liquidator.

ASIC’s investigations identified concerns that Mr Thomson had not, or may not have, faithfully performed his duties as a registered liquidator.

On 31 July 2026, the Australian Financial Security Authority, on behalf of the Inspector-General in Bankruptcy, issued a media release regarding the Federal Court orders transferring the remaining bankruptcy estates under Mr Thomson’s administration to the Official Trustee. The media release is available on the AFSA website.

Following a request from ASIC in July 2026, Mr Thomson voluntarily resigned from a number of liquidations, and ASIC appointed Ms Nicole Allmark and Ms Paula Smith as replacement liquidators.

ASIC Commissioner Kate O’Rourke said, ‘Registered liquidators perform an important role in Australia’s insolvency system.

‘ASIC will take action where it has concerns that a liquidator may not be meeting the standards expected of the profession, including where conduct may undermine confidence in the administration of external administrations,’ Commissioner O’Rourke said.

No admissions have been made by Mr Thomson with respect to ASIC’s concerns.

Background

Registered liquidators must comply with their obligations under the Corporations Act 2001, including the Insolvency Practice Schedule. ASIC regulates registered liquidators and may take action where it has concerns about whether a person is fit and proper to remain registered or has adequate resources to perform their duties.

In 2015, ASIC accepted an enforceable undertaking from Mr Thomson relating to, among other things, his withdrawal of $24,200 in remuneration that had not been approved (15-079MR).