Liquidator disciplinary committee publicly reprimands Simon John Thorn

Registered liquidator Simon John Thorn has been publicly reprimanded for failing to adequately carry out his duties in connection with his appointment as administrator of Premier Energy Resources Pty Ltd.

On 4 August 2026, a liquidator disciplinary committee (Committee) decided that

1. Simon John Thorn, registered liquidator, should continue to be registered
2. Mr Thorn should be publicly reprimanded, and
3. ASIC should publish a notice in the form of Annexure A to the Committee's report on its website, www.asic.gov.au.

The Committee found that Mr Thorn:

• failed to make reasonable enquiries to satisfy himself that he had been validly appointed after a director asserted he had not signed a resignation document that enabled the appointment, and
• failed to promptly apply to the Court to confirm the validity of his appointment when questions remained about whether the appointment was valid.

The Committee stated that where a director asserted that a registered liquidator has not been validly appointed by reason of him not signing a document essential to the appointment, the registered liquidator must make reasonable and prompt enquiries into the circumstances surrounding their appointment. If those enquires do not resolve the dispute, the liquidator should promptly bring an application to court on the basis that they have not been validly appointed, rather than to carry out any functions and to exercise any powers.

In reaching its decision, the Committee took into account that Mr Thorn:

• accepted he had learned from the experience and would seek court directions immediately if faced with similar circumstances in future
• had not previously been subject to disciplinary action, and
• was not alleged to have acted dishonestly.

The Committee's decision to issue a public reprimand is a reminder to Mr Thorn and to insolvency practitioners generally of the need to at all times adequately perform the duties of a registered liquidator.

Downloads

Annexure A to the Committee's report dated 4 August 2026 can be found on the Registered Liquidator Disciplinary Decisions web page.

Background

Under Schedule 2 of the Corporations Act - Insolvency Practice Schedule (Corporations), ASIC issued Mr Thorn a 'show cause notice' requiring his written explanation as to why his liquidator registration should continue. ASIC considered Mr Thorn's response unsatisfactory.

Where ASIC is not satisfied with a response to a 'show cause notice', it may convene a committee to determine whether disciplinary action should be taken.

On 17 April 2026, ASIC referred Mr Thorn to the Committee.

Liquidator disciplinary committees comprise an ASIC representative, a registered liquidator (nominated by ARITA), and a person nominated by the Minister. ASIC must give effect to decisions made by liquidator discipline committees.

ASIC must also include particulars of disciplinary action against a registered liquidator on the Register of Liquidators and publish on the Registered Liquidator Disciplinary Decisions webpage.