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A shadow director has been charged and sentenced after being found guilty of destroying company records and breaching director duties.
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ASIC secures sentence against shadow director
06 June 2019
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9 minute read
Ms Soutsakhorn Chanthabouly (known as Nicole Khammenathy) of Carnes Hill, NSW, has been convicted and sentenced after pleading guilty to charges related to illegal phoenix activity.
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She was a shadow director of MK Asbestos Removal Pty Ltd ACN 142 918 590, which operated a business of asbestos removal services in New South Wales.
Ms Chanthabouly was charged with one count of breaching her director duties and another count of destroying company records, following an investigation by ASIC. She was sentenced to a one-year, $500 good behavior bond and ordered to pay $22,000 in reparation.
As a result of her conviction, Ms Chanthabouly is automatically disqualified from managing corporations for five years from 16 May 2019.
An ASIC investigation found that on or about 6 February 2014, Ms Chanthabouly transferred $22,000 from the company bank account to the bank account of Express Asbestos Removals Pty Ltd ACN 167 780 583, a company of which she was a director.
In doing so, Ms Chanthabouly used her position dishonestly with the intention of gaining an advantage for herself and Express Asbestos Removals Pty Ltd.
The investigation also found that between 3 February 2014 and 19 August 2014, Ms Chanthabouly destroyed the books of the company.
The company was subsequently placed into liquidation on 3 February 2014. At the time, the company owed $78,153.90 to the ATO and $19,807.86 in unpaid premiums for workers compensation insurance. By removing company funds, Ms Chanthabouly intentionally denied the ATO access to money owed to it.
The liquidator of the company, Robyn Duggan of Ferrier Hodgson, had provided a report to ASIC leading to the investigation. ASIC provided funding to the liquidator from the Assetless Administration Fund.
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