Coolangatta enterprise id David John Parker has been banned from operating corporations for 5 years after the collapse of 4 corporations.
The 4 corporations concerned had been:
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High quality Company Administration Pty Ltd, which sourced and provided labour specialising in safety companies.
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Carnz Restaurant Providers Pty Ltd, which supplied labour rent to a number of companies working within the meals and lodging business.
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Full House & Marine Pty Ltd, which supplied customized house theatre outfitting, “good house” electronics, satellite tv for pc connection and under-floor heating; and
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All Concrete SLD Pty Ltd, which supplied development companies for residential and industrial initiatives involving “tilt-up” panels, earthmoving and highway development.
On the time of ASIC’s resolution, the 4 corporations owed greater than $3 million to collectors, together with greater than $1 million owed to the Australian Tax Workplace.
The company watchdog, the Australian Securities and Investments Fee, has now banned Mr Parker from managing firms till March 24, 2031.
ASIC discovered that Mr Parker acted improperly and failed to fulfill his obligations as a director in that he:
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failed to make sure the businesses complied with authorized obligations to lodge enterprise exercise statements, annual earnings taxation returns and PAYG cost summaries and to repay excellent taxation debt promptly
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failed to make sure that corporations maintained and saved sufficient books and data, together with High quality Company Administration Pty Ltd, which didn’t correctly document roughly $19m price of inflows and outflows in its financial institution accounts
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did not safe management over All Concrete SLD Pty Ltd’s checking account, permitting the previous director to retain entry to funds held, accumulate money owed and make funds to 3rd events, and
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Failed to finish and submit a Report on the Firm Actions and Property to the liquidator of All Concrete SLD Pty Ltd throughout the time required.
In disqualifying Mr Parker, ASIC relied on experiences lodged by the liquidators of three of the 4 corporations.
Mr Parker has the precise to hunt a assessment of ASIC’s resolution by the Administrative Assessment Tribunal.
