Wednesday 13 September 2006 – LAWFUEL – Legal News Network – Mr Zigg…

Wednesday 13 September 2006 – LAWFUEL – Legal News Network – Mr Ziggy Matve, of Parkinson in Queensland, has pleaded guilty in the Brisbane Magistrates Court to two charges of taking part in the management of a corporation whilst an undischarged bankrupt. The charges were brought by the Australian Securities and Investments Commission (ASIC).

Mr Matve was convicted and fined $3,000 and ordered to pay court costs. An investigation into Mr Matve found that he was directly involved in the management of Clipper International Pty Ltd (Clipper) and Pty Ltd (YLS) while an undischarged bankrupt. Between January 2005 and September 2005 Mr Matve entered into agreements on behalf of Clipper and YLS to supply a wireless internet product which they failed to deliver, leaving the intended customer out of pocket.

‘Bankrupts are prohibited from managing companies under the law and ASIC will not hesitate to take action against those who show scant regard for their disqualified status’, ASIC’s Deputy Executive Director of Consumer Protection, Ms Delia Rickard said.

This matter was prosecuted by the Commonwealth Director of Public Prosecutions. For further information contact: Delia Rickard Deputy Executive Director, Consumer Protection Telephone: 02 6250 3801 Mobile: 0412 673 026 Danielle Huck ASIC Media Unit Telephone: 03 9280 3407 Mobile: 0417 540 769

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