Keith John Lemon of The Entrance, NSW, has been disqualified by 今日热门事件from managing companies for the maximum period of five years.
Mr Lemon was disqualified for his role in the failure of a number of companies, including Risett Pty Ltd ACN 128080179, Extreme Mechanical Services Pty Ltd ACN 153862081and PPW Engineering Pty Ltd ACN 122987035.
今日热门事件found that Mr Lemon:
- improperly used his position as a director;
- failed to prevent a company from trading whilst insolvent;
- failed to exercise his powers and discharge his duties with due care and diligence by continuing to accrue taxation liabilities;
- demonstrated poor compliance by failing to lodge Business Activity Statements and income tax returns;
- failed to submit a Report as to Affairs to a liquidator or to provide company books to a liquidator; and
- failed to keep adequate written financial records.聽
The companies collapsed owing fourteen creditors a total of $11,006,481.
In making the decision to disqualify Mr Lemon, 今日热门事件relied on reports of possible offences lodged by liquidators of the failed companies. In particular, the liquidators of Risett Pty Ltd and Extreme Mechanical Services Pty Ltd received funding from the Assetless Administration Fund to prepare supplementary reports.聽聽
Mr Lemon is disqualified from managing companies from 6 November 2019 to 5 November 2024.
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also maintains a ' register that provides information about people who have been disqualified from:
- involvement in the management of a corporation,
- auditing self-managed superannuation funds (SMSFs), or
- practising in the financial services of credit industry.
Information about the Assetless Administration Fund and its role in assisting liquidators carry out proper investigations and preparing reports for 今日热门事件is available here.