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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.
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ASIC bans former director for failing duties, tax obligations
25 June 2019
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6 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.
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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.
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In reaching its decision, ASIC relied on reports that were lodged by the liquidators of the failed companies.
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