Two Canberra-region directors have been disqualified from managing companies after they were involved in failed ACT and NSW construction firms that still owe $11.25m to unsecured creditors.
In a statement on Thursday, ASIC said David Ross Hall of Googong has been disqualified until October 2026 for his involvement in six failed companies.
Michelle Denise Hall, also of Googong, has been disqualified until April 2024 for her involvement in two.
Between 1996 and 2019, Mr Hall was a director of ACT companies Canberra Precast and Canberra Cranes.
He was also director of NSW firms In Precast Prestell Hire, Prestell Hire, Regemade Cranes and Rigging and C.T. Precast & Tilt.
ASIC found Mr Hall breached numerous duties, including failing to preventing In Precast from trading while insolvent.
He also failed to act with due care and diligence by allowing In Precast to pay the tax debt of a related entity and to allow loans made to third parties to accumulate.
He also breached his duty to act with due care and diligence by failing to ensure that Prestell Hire lodged tax documents and failing to meet record keeping obligations related to In Precast and Prestell Hire.
At the time of ASIC's decision to ban him, the six companies owed unsecured creditors $11.25m including $4.38m owed to the ATO.
MORE NEWS
- All ACT Health COVID testing sites at capacity
- 'Selling like hotcakes': Rapid antigen tests supply plummets
- 'Ultra violent' convicted killer released after string of headbutt attacks
- Head for the coast - with fingers crossed
Ms Hall was a director of In Precast and Prestell Hire in 2017-19 and committed the same breaches above as Mr Hall.
Those two companies owe unsecured creditors $3.92m including $2m to the ATO.
In deciding to disqualify the pair, ASIC relied on supplementary reports lodged by the liquidators of In Precast, Steven Gladman of Hall Chadwick, and the liquidator of Prestell Hire, Frank Lopilato of RSM Australia.
ASIC maintains a a banned and disqualified persons register that provides information about people who have been disqualified.
