Wednesday 13 June 2007 LAWFUEL – The Law Newswire – The Australian Securities and Investments Commission (ASIC) has disqualified six directors from managing corporations following their involvement in failed companies. Mr George Weeden Dawes Jorgensen ASIC has disqualified builder, Mr George Weeden Dawes Jorgensen of St Lucia, Queensland, from managing companies for five years. Mr Jorgensen’s disqualification follows an ASIC investigation into his involvement in two failed companies,Retail Renovations Pty Ltd and BTD Services Pty Ltd.
ASIC found that both companies failed to pay statutory debts to the Australian Taxation Office (ATO) and that Retail Renovations failed to pay statutory debts to the Department of Employment and Workplace Relations and the Building Services Authority (BSA). In relation to Retail Renovations Pty Ltd, ASIC found that Mr Jorgensen failed to ensure that the company maintained proper books and records and that the company’s financial records also overstated its assets and did not properly account for costs and liabilities. The BSA disqualified Mr Jorgensen from managing companies licensed by the BSA for five years. ASIC found that Mr Jorgensen continued to manage Retail Renovations in contravention of that disqualification.
ASIC also found that Mr Jorgensen allowed both companies to trade while insolvent. Mr Gregory Ian Mitchell ASIC has disqualified employment agent, Mr Gregory Ian Mitchell of Jannali, New South Wales, from managing corporations for three years. Mr Mitchell’s disqualification follows an ASIC investigation into his involvement in five failed companies, ACB Human Resources Pty Ltd, Nationwide Employment Agencies (Vic) Pty Ltd, Nationwide Rural Contracting (Qld) Pty Ltd, Nationwide Employment Agencies Pty Ltd and Employment Labour Service Pty Ltd. ASIC found that Mr Mitchell allowed four of the companies to trade while insolvent. Further, he failed to ensure that Nationwide Employment Agencies (Vic) Pty Ltd and Employment Labour Service Pty Ltd kept adequate books and records. Mr Mitchell has appealed to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Mr Michael Anthony Wittingslow ASIC has disqualified amusement park and arcade proprietor, Mr Michael Anthony Wittingslow of Rye, Victoria, from managing corporations for three years.
Mr Wittingslow’s disqualification follows an ASIC investigation into his involvement in four failed companies, Monstory Pty Ltd, Entertainment Services International Pty Ltd, Holdings (33) Pty Ltd and W Trading Pty Ltd. ASIC’s investigation found that Mr Wittingslow failed to assist the liquidator of Monstory Pty Ltd and failed to keep adequate books and records in respect of that company. Mr Wittingslow also allowed Monstory Pty Ltd and Entertainment Services International Pty Ltd to trade while insolvent. Mr Christopher Frederick Randle ASIC has disqualified transport and storage operator, Mr Christopher Frederick Randle of Brighton, Victoria, for three years. The disqualification of Mr Randle follows an ASIC investigation regarding his involvement in three failed companies, Victoria Drive Pty Ltd, Shevane Pty Ltd and Paris Trading Pty Ltd. ASIC found that the companies failed to meet statutory liabilities. Mr Randle also failed to ensure that Victoria Drive Pty Ltd and Shevane Pty Ltd kept adequate financial records.
Mr Peter John Picozzi Shandon ASIC has disqualified logistics operator, Mr Peter John Picozzi Shandon of Port Melbourne, Victoria, from managing corporations for two years. Mr Shandon’s disqualification follows an ASIC investigation into his role in two failed companies, Link Logistics Pty Ltd and Compass Logistics Pty Ltd. ASIC found that both companies failed to pay statutory debts to the ATO and that Mr Shandon allowed Compass Logistics to trade while insolvent. Mr Richard Charles Proctor ASIC has disqualified transport operator, Mr Richard Charles Proctor of Mt Riverview, New South Wales, from managing corporations for 18 months. Mr Proctor’s disqualification follows an ASIC investigation into his involvement in two failed companies, J & M Eddy Services Pty Ltd and Proline Transport Pty Ltd. ASIC found that Mr Proctor made assets of J & M Eddy Services Pty Ltd available to another company and failed to advise the liquidator of J & M Eddy Services Pty Ltd this was occurring. Further, Mr Proctor failed to ensure that Proline Transport Pty Ltd maintained proper accounting records.
The above disqualified directors have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision. Mr Gregory Ian Mitchell has sought a review of ASIC’s decision. For further information contact: Greg Tanzer Executive Director, Consumer Protection Telephone: (07) 3867 4704 Mobile: 0411 549 144 Name: Michael van Maanen ASIC Media Unit Telephone: 02 9911 3658 Mobile: 0412 500 351
