ob体育 has disqualified former electrical services director Sam Casella, of Bossley Park, NSW, from managing corporations for the maximum period of five years due to his involvement in the failure of three companies.
Between December 2015 and March 2023 Mr Casella was a director of three companies:
- Roundelectrics Pty Ltd (ACN 160 411 389);
- Spec Electrical Group Pty Ltd (ACN 609 669 310); and
- Quattro Constructions Pty Ltd (ACN 642 288 953).
ob体育 found that Mr Casella acted improperly and failed to meet his obligations as director when he:
- agreed to become the 鈥渙wner鈥� of assets and failed to carefully consider or enquire about what would be required of him;
- was unaware that he was a director of Roundelectrics Pty Ltd from 26 August 2016 until 1 March 2022;
- would sign documents concerning Roundelectrics Pty Ltd on instructions of an alleged shadow director without reading the documents;
- had no knowledge of the affairs of Roundelectrics Pty Ltd; and
- lacked control and accountability concerning Roundelectrics Pty Ltd which led to him being involved in:
- the failure to keep proper records
- the transferring of assets without proper consideration
- insolvent trading
- significant debts owed to statutory bodies.
At the time of ob体育鈥檚 decision, the three companies owed a combined total of $1,521,320.21 to creditors, including $1,048,044.2 owing to the Australian Taxation Office and other statutory creditors.
In disqualifying Mr Casella, ob体育 relied on a supplementary report lodged by Spec Electrical Group Pty Ltd鈥檚 liquidator, Domenic Calabretta of Mackay Goodwin. ob体育 assisted Mr Calabretta to prepare his reports by providing funding from the Assetless Administration Fund.
Mr Casella is disqualified from managing corporations until 31 August 2028.
Mr Casella has the right to seek a review of ob体育鈥檚 decision by the Administrative Appeals Tribunal.
Background
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.
ob体育 maintains a banned and disqualified persons register that provides information about people who have been disqualified from:
- involvement in the management of a corporation;
- auditing self-managed superannuation funds (SMSFs); or
- practicing in the financial services or credit industry.