You have 0 free articles left this month.
Register for a free account to access unlimited free content.
Powered by MOMENTUM MEDIA
accountants daily logo

ASIC bans former director for failing duties, tax obligations

Tax

A former director, who failed to lodge returns and pay taxes, has been barred from managing companies for the maximum period for his involvement in three failed companies.

Sponsored by Jotham Lian 8 minute read

ASIC has disqualified Leigh Jorgensen, of Cairns, Queensland, from managing companies for the maximum period of five years as a result of his involvement in three failed companies.

Mr Jorgensen was a former director of A.C.N. 156 455 828 Pty Ltd (ACN 156 455 828), formerly known as North Trek Tours; Cairns Tour Bookings Pty Ltd (ACN 607 849 301); and Tudoods Pty Ltd (ACN 112 831 124).

He had used the companies to operate a tour business in and around the Cairns region, before the companies were placed into liquidation between 11 April 2012 and 27 January 2017.

The total amount of debts owed by the companies to creditors amounted to approximately $1.1 million.

ASIC’s investigations found that Mr Jorgensen had failed to make the required lodgements with, or pay taxes to, the ATO; failed to ensure that proper financial records were kept; failed to deliver books and records to the liquidators; and failed to exercise his duties as a director with due care and diligence.

Mr Jorgensen’s disqualification took effect from 27 April 2019 and extends to 26 April 2024.

==
==

In reaching its decision, ASIC relied on reports that were lodged by the liquidators of the failed companies.

This email address is being protected from spambots. You need JavaScript enabled to view it.

Jotham Lian

Jotham Lian

AUTHOR

Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.

Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.

You can email Jotham at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

You are not authorised to post comments.

Comments will undergo moderation before they get published.

accountants daily logo Newsletter

Receive breaking news directly to your inbox each day.

SUBSCRIBE NOW