ob体育 has disqualified William (aka Bill) Hanron Redmond of Clayfield, Queensland, from managing corporations for two years due to his involvement in the failure of three companies.听
Between October 2016 and July 2020, Mr Redmond was the director of three companies which entered liquidation:听
- Redlaw Australia Pty Ltd (ACN 168 908 450);听听
- Red Lawyers Pty Ltd (ACN 162 229 245); and听
- Red Capital Partners Pty Ltd (ACN 601 660 208).听
Red Lawyers formerly operated the law practice of Redmond & Redmond, while Redlaw was the service entity to support Redmond & Redmond. Red Capital Partners provided business and personal services.听
ob体育 found that Mr Redmond failed to meet his obligations as director when he:听
- failed to inform himself of, and monitor, Red Lawyers鈥� and Redlaw鈥檚 compliance with their Australian Taxation Office (ATO) lodgement obligations;
- caused harm to Redlaw by failing to take steps to seek the repayment of a loan to another company, of which he is the sole director; and听
- gained an advantage when he transferred the business of Redmond & Redmond from Red Lawyers to another company of which he is the sole director.听
The three companies were wound up owing a combined total of approximately $1.85million to creditors, including $601,028 owing to the ATO. 听
In disqualifying Mr Redmond, ob体育 relied on supplementary reports lodged by Redlaw Australia鈥檚 liquidator, Andrew Weatherley of WCT Advisory Group, and Red Lawyers鈥� liquidators, Clare Birnie and John Shanahan formerly of Gervase Consulting.听
Mr Redmond is disqualified from managing corporations until 18 October 2024.听听
Mr Redmond has the right to seek a review of ob体育鈥檚 decision by the Administrative Appeals Tribunal.听
Background听
Section 206F of the Corporations Act allows ob体育 to disqualify a person from managing corporations for a maximum period of 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 ob体育 about each of the company鈥檚 inability to pay its debts.听
ob体育 maintains a banned and disqualified persons register that provides information about people who have been disqualified from:听
- involvement in the management of a corporation;听
- auditing self-managed superannuation funds (SMSFs); or听
- practising in the financial services or credit industry.听