George Losick / Bankrupt/ Senate/ ITSA

SENATE STANDING COMMITTEE ON LEGAL AND CONSTITUTIONAL AFFAIRS

INSOLVENCY AND TRUSTEE SERVICE AUSTRALIA

Question No. 58

Senator Williams asked the following question at the hearing on 24 May 2012:

Senator WILLIAMS:

You are presently handling a matter in relation to a Mr George Lousick, who traded I

believe as G & K Aluminium and as Clarence Valley Aluminium and Steel on the North Coast of New South

Wales. Mr Lousick is no longer trading and, I believe, left a trail of creditors in his wake. You were seeking to

have Mr Lousick sign documents to enable further examination of his affairs. Do you know if he has signed those

documents?

Ms Ingram:

I would have to take that on notice.

The answer to the honourable S

enator’s question is as follows:

Mr Lousick has signed the documents. The answer to Question No. 70 provides further

information.

SENATE STANDING COMMITTEE ON LEGAL AND CONSTITUTIONAL AFFAIRS

INSOLVENCY AND TRUSTEE SERVICE AUSTRALIA

Question No. 70

Senator Williams asked the following question at the hearing on 24 May 2012:

George Lousick became bankrupt in April 2010, with debts of around $1 million. ITSA has said

previously the operating arrangements of Clarence Valley Aluminium and Steel Specialists

were of inte

rest to the Trustee, particularly Mr.Lousick’s management of deposits. He is

required to account for $134,500 in total transactions.

a) Has ITSA been able to obtain the financial records of G & K Aluminium and the financial

records of the bankrupt’s business

from Indigenous Business Australia?

b) Has ITSA been able to interview Mr.Lousick as suggested in your report of June 2011?

c) If ITSA has been able to obtain the records, can you indicate what the examination of those

records has revealed?

d) Can you determine if the bankrupt had been trading insolvent at any time, including when he

was operating Jopalo Boats, and particularly when he was under the supervision, guidance

and financial support of Indigenous Business Australia?

e) If a bankrupt refuses to sign and return the written authority as directed, what penalty can be

imposed?

This is reply from Veronique Ingram , Inspector General in Bankruptcy.

Veronique Ingram protected the corrupt trustee Paul Pattison . Paul Pattison is now a bankrupt himself.

It is a probability that Veronique Ingram is also protecting George Lousick

The answer to the honourable S

enator’s question is as follows:

a) The Official Trustee has received the records of G & K Aluminium. The records of Clarence

Valley Aluminium and Steel Specialists (copies of records held by Indigenous Business Australia)

are still being pursued.

b) Since the report of June 2011 the Official Trustee has received responses to comprehensive

questions in respect of

Mr Lousick’s examinable affairs. As such the Official Trustee considers that

an interview with Mr Lousick is no longer necessary.

c) As indicated, the records of G & K Aluminium have been received and are currently being

examined. The records of Clarence Valley Aluminium and Steel Specialists are being pursued and

will likewise be examined.

d) The Official Trustee is not in a position to answer this question at present, but will keep creditors

informed of any action that may be considered appropriate as a result of the examination of the

financial records.

e) If a bankrupt refuses or fails to sign a document after being lawfully required to do so by the

trustee, the trustee can file an objection to his or her discharge from bankruptcy, thereby extending

the bankruptcy period to eight years.