Media Release: NSW (Tarrant) AFSA exercises coercive powers to obtain books and records

Tuesday, April 30, 2019

Earlier today, officers of the Australian Financial Security Authority (AFSA), accompanied by members of the New South Wales Police Force and Registered Trustee in Bankruptcy, Mark Roufeil of PKF Accountants and Business Advisers, seized physical and electronic records from residential and business premises associated with undischarged bankrupt, Mr Mervyn Ross Tarrant.

This exercise was carried out to obtain records associated with Mr Tarrant’s bankruptcy enabling the trustee of his bankrupt estate to progress investigations into his financial affairs.

Premises across Wollongong were searched, with records recovered from two sites.

Mr Tarrant was made bankrupt on 8 September 2016 on the petition of three creditors.

AFSA utilised powers under the Bankruptcy Act to recover records for the benefit of the bankrupt estate. The power was exercised following noncompliance by the bankrupt in providing information needed to administer the estate.

Under the Bankruptcy Act, a trustee of a bankrupt estate can apply to the Official Receiver to access premises and recover books associated with the bankruptcy. The Official Receiver exercises these powers to assist a trustee in fulfilling their duties.