The Australian Financial Security Authority (AFSA) welcomes a Federal Court of Australia order made on 15 July 2026 transferring 119 bankrupt estates from registered trustee Mr Ross Thomson to the Official Trustee in Bankruptcy.
In June 2025, the Inspector-General in Bankruptcy directed Mr Thomson not to accept any new appointments as a registered trustee. AFSA subsequently commenced legal proceedings in December 2025 seeking orders to preserve and protect funds and records relating to bankrupt estates under Mr Thomson's administration.
The decision in Inspector-General in Bankruptcy v Thomson [2026] FCA 982 followed concerns regarding access to records and information necessary for the effective administration of those estates.
Justice Jackson’s judgement found that Mr Thomson had not been faithfully performing his duties as a trustee, noting that failures in various steps of his administration of estates had resulted in contraventions of the Bankruptcy Act 1966. The Court found these failures were serious and had the potential to undermine public confidence in the registered trustee profession.
Inspector-General in Bankruptcy and AFSA Chief Executive, Tim Beresford, welcomed the Court's decision.
"The Court's decision ensures these estates will be administered in the interests of debtors and creditors, while maintaining confidence in the integrity of Australia's personal insolvency system.
"The Official Trustee is a critical safeguard within Australia's personal insolvency system. Administered by AFSA, it provides a trusted and enduring safety net that ensures the continued administration of bankrupt estates.
"The Inspector-General will continue to intervene where the integrity of the personal insolvency system is threatened and will take regulatory action where necessary to protect confidence in the system."
The Inspector-General's investigations into this matter are continuing.
