A director involved in the failure of two Darwin-based employment companies has been banned from managing companies for three years by ASIC.

Mr Stephen Paul Hatton, 62, of Taylors Hill, Victoria, was banned by ASIC following an investigation into his association with Corporate Response Pty Ltd (Corporate Response) and Best Practice Skills Pty Ltd (Best Practice).

Corporate Response was wound up in January 2005 and Best Practice in December 2009, owing substantial amounts to unsecured creditors. These unsecured creditors will receive little or no return.

ASIC’s NT Regional Commissioner, Duncan Poulson, said the regulator would continue to take action against company directors who failed to meet their legal obligations.

‘ASIC will vigorously pursue company directors who fail to uphold the high standards the Australian public expects and deserves.’

Mr Hatton chose not to attend a hearing before ASIC or make written submissions in relation to ASIC’s concerns. His ban took effect from 29 November 2010.

Mr Hatton has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.