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Victorian given a maximum ban after lodging false documents in attempt to avoid liability.
ASIC disqualifies director over four failed companies, debts of $8m
08 December 2022
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7 minute read
ASIC has disqualified Victorian director Rudolph Karel Jansen for five years over the failure of four companies owing over $8 million to unsecured creditors.
The regulator found Mr Jansen had attempted to avoid personal liability for the companies’ debts and failed to comply with routine tax obligations.
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The four failed companies:
- Hygrade Cutting Formes Co Pty Ltd
- Laser Dies Australasia Pty Ltd
- Hygrade Group Pty Ltd
- Hygrade Management & Software Pty Ltd
During its investigation ASIC found that Mr Jansen had:
- Lodged false documents with ASIC that appointed individuals as directors without their consent in an attempt to avoid the personal liability associated with the company’s significant superannuation and taxation debts.
- Failed to take all reasonable steps to secure compliance with an obligation to keep written financial records.
- Failed to comply with statutory obligations to lodge business activity statements or income tax returns with the ATO.
- Failed to comply with statutory obligations to make PAYG payments to the ATO or payments to employee’s superannuation funds.
- Failed to prevent Hygrade Management and Software from incurring debt totalling approximately $1,058,865 when the company was most likely insolvent.
The firms owed a combined total of $8,042,160 to unsecured creditors, including $2,453,678 to the ATO, and ASIC imposed its maximum ban.
Mr Jansen is disqualified from managing corporations until 24 November 2027, he has the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.
In the disqualification process of Mr Jansen ASIC relied on reports lodged by liquidators Gess Rambaldi, David Vasudevan, and Andrew Yeo of Pitcher Partners.
ASIC said the incoming director ID requirement would help address misconduct, such as the appointment of directors without their consent.
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