The AAT has decided to set aside a 2019 liquidator disciplinary committee decision to cancel the liquidator registration of Trajan John Kukulovski.
Instead, Mr Kukulovski will now be suspended for a three-year period from 15 January 2020.
Along with the suspension, the AAT has imposed a condition on Mr Kukulovski’s registration that, during the period from 15 January 2023 to 14 January 2026, he must not consent to be appointed and/or act in any role for which registration as a liquidator is at the time required unless the appointment is on a “joint” basis with another registered liquidator.
The decision comes after ASIC expressed concerns around Mr Kukulovski’s roles as voluntary administrator, deed administrator and liquidator/joint liquidator of Tinplatter Pty Ltd (Tin), Adelaide Street Holdings Pty Ltd (ASH), and Western Jetz Pty Ltd (WJ) between 2009 and 2013.
The corporate regulator alleged that Mr Kukulovski failed to adequately supervise staff on the ASH and WJ external administrations, resulting in some monies of those administrations being used to pay unrelated expenses of $190,000 and $10,000.
ASIC was also concerned that the monies in question were not deposited into their respective liquidation bank accounts, and were instead deposited into Mr Kukulovski’s firm’s account.
According to ASIC, the forms lodged by Mr Kukulovski for these administrations failed to properly account for these monies and, accordingly, the forms were false or misleading.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.