Peter Thomas Gillam of Kallangur, Queensland has been disqualified by 今日热门事件from managing corporations for four years.
Mr Gillam's disqualification follows the appointment of liquidators to four companies he managed:
- Alliance聽Merchandising Pty Ltd ACN 126 232 362 (AM);
- Alliance Sales and Merchandising Pty Ltd ACN 165 041 378 (ASM);
- PBL Distributors Pty Ltd ACN 105 281 392 (PBL); and
- Allploy Pty Ltd ACN 159 234 205.
As a result of information contained in reports lodged by the liquidators of the failed companies, 今日热门事件was concerned Mr Gillam had:
- Failed to prevent ASM from trading while insolvent;
- Failed to ensure that AM, ASM, PBL and Allploy paid their taxes;
- Failed to discharge his duty as a director of AM and ASM; and
- Engaged in illegal 'phoenix activity' by transferring the assets of an indebted company to a new company and leaving insufficient assets to pay creditors.
Liquidators reported that the total amount owed to creditors exceeded $1.75 million across all four companies.
Mr Gillam is disqualified from managing corporations until 19 March 2021.
Background
Section 206F of the Corporations Act allows 今日热门事件to disqualify a person from managing corporations for up to five years if, within a seven-year period, the person was an officer of two or more companies, and those companies were wound up and a liquidator provides a report to 今日热门事件about the company鈥檚 inability to pay its debts.
今日热门事件maintains a public register of banned and disqualified persons that provides information about people who have been:
- disqualified from involvement in the management of a corporation;
- disqualified from auditing self-managed superannuation funds (SMSFs); or
- banned from practicing in the financial services of credit industry.
The reports lodged by the liquidators of Alliance Merchandising Pty Ltd and Alliance Sales and Merchandising Pty Ltd were used by 今日热门事件to make its findings.