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Deloitte Restructuring Services Partner appointed President of Insolvency Practitioners Association


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21 May 2013:  Deloitte Restructuring Services Partner David Lombe has been appointed President of the Insolvency Practitioners Association of Australia (IPA).

The IPA is the professional body for insolvency practitioners in Australia and for those working in the field of business reconstruction and corporate and personal insolvency.

David is the leader of Deloitte’s NSW insolvency and restructuring practice and has more than 25 years’ experience in advising organisations across the full breadth of reorganisation options, including official and voluntary liquidations, receiverships and administrations, restructuring, viability reviews and pre-lending reviews and bankruptcy.

David Lombe said: “Around 80% of all registered liquidators and trustees in bankruptcy are IPA members and the Association is dedicated to supporting insolvency and recovery professionals in their efforts to restore the economic value of underperforming businesses and represent the interests of secured and unsecured creditors.”

“I am looking forward to working with our Board, executive, members and our regulators to continue to drive the highest standards of professional conduct and education and to contribute to the development of relevant legislation and regulation.

“I also pay tribute to my predecessor, Robyn Erskine, who has made a significant contribution to the IPA in her two years as President.”

Ian Thatcher, National Lead Partner of Deloitte’s Financial Advisory Services group said: “David’s appointment is testament to his standing in what is an incredibly demanding profession.”

“He is a strong and well-respected leader who will make an invaluable contribution in his role as IPA President.”

David has acted for major trading banks and has considerable experience across a number of industry sectors, including health, retail, manufacturing, insurance, construction and professional services. He has also acted as an expert witness in a number of high profile pieces of litigation.

Key appointments in his career have included:

  • Provisional Liquidator of United Medical Protection Limited and its subsidiaries, where the company successfully emerged from provisional liquidation, Australia's only example of a successful turnaround in a formal appointment
  •  Inspector of the HIH Group by the Australian Prudential Regulation Authority (APRA)
  • Voluntary Administrator of  Westbus and Gowings
  • Liquidator of Babcock & Brown

Most recently, David was joint Voluntary Administrator of Payless Shoes which was successfully restructured and sold to US-based Payless ShoeSource. The sale demonstrated that, with effective restructuring, businesses can be turned around and jobs retained.

David is a Chartered Accountant; Registered Trustee in Bankruptcy; Registered Liquidator; Official Liquidator of the Supreme and Federal Courts; Registered Auditor and a Justice of the Peace

.Earlier this year, another Deloitte Partner assumed a key industry leadership position, with Deloitte Private’s Tim Gullifer appointed 2013 President of the Institute of Chartered Accountants of Australia (ICAA).

NB: See our media releases and research at www.deloitte.com.au

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Last Updated: 

Contacts

Name:
David Lombe
Company:
Deloitte
Job Title:
Partner, Restructuring Services
Phone:
Phone: +61 2 9322 7400
Email
dlombe@deloitte.com.au
Name:
Simon Rushton
Company:
Deloitte
Job Title:
Corporate Affairs and Communications
Phone:
Tel: +61 2 9322 5562
Email
srushton@deloitte.com.au

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