ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters.
14-064MR Former Kleenmaid directors ordered to stand trial
Three former directors of national whitegoods distributor Kleenmaid have been ordered to stand trial on 20 criminal charges including a $13 million fraud on Westpac and 18 charges of insolvent trading.
Following a three-week committal hearing in November 2013 which ended after a further day of hearing on 31 March 2014, Andrew Eric Young, Bradley Wendell Young and Gary Collyer Armstrong were committed to stand trial in the Maroochydore District Court on a date to be fixed.
Kleenmaid entered voluntary administration in 2009 and liquidators reported consolidated debts of almost $100 million.
ASIC is also alleging that Mr Armstrong and Andrew Young dishonestly withdrew more than $300,000 from the company's bank accounts two days before it went into administration (refer: 12-27AD).
The former directors have not been required to enter a plea and are on conditional bail.
The Commonwealth Director of Public Prosecutions is prosecuting the matter
Each of the criminal insolvent trading charges under section 588G(3) of the Corporations Act 2001 carries a maximum penalty of $200,000 or imprisonment for five years or both.
The two fraud charges under section 408C of the Queensland Criminal Code carry a maximum penalty of imprisonment for 12 years.
Editor's note 1:
On 29 September 2014 an indictment was presented to the Brisbane District Court.
The trial, which is expected to last three months, was listed to commence on 17 August 2015.
Editor's note 2:
The trial has been adjourned, and no new trial date has been set.
Editor's note 3:
The trial date for Andrew Eric Young and Bradley Wendell Young has been vacated and their matter will be mentioned on 2 October 2015 for further directions.
Editor's note 4:
The trial date, expected to last 8 weeks, is to commence 14 March 2016.
Editor's note 5a:
The matter was mentioned on 1 March 2016, where the trial date was moved to 4 April 2016.
Editor's note 5b:
Following a mistrial, the trial against Andrew Young was discontinued on 26 April 2016 while the trial against Bradley Young continued. On 5 August 2016, following a 71 day trial, Bradley Young was found guilty on 18 charges (refer: 16-248MR) and subsequently sentenced to nine years imprisonment (refer: 16-257MR).
Editor's note 6:
On 10 October 2016, the matter involving Mr Andrew Young was adjourned to 21 November 2016 for further mention, at which time it is expected that a date will be fixed for trial.
Editor's note 7:
On 21 November 2016, the matter was adjourned for further mention until 5 December 2016.
Editor's note 8:
Andrew Eric Young appeared in the Brisbane District Court on 5 December 2016 and the charges have now been listed for a trial, to commence on 21 August 2017.
Editor's note 9:
On 18 August 2017, the matter was mentioned in the Brisbane District Court. The trial, which was to commence on 21 August 2017, has now been re-listed and is due to commence on 28 August 2017.
Editor's note 10:
Due to the health of Mr Andrew Young, on 20 October 2017 Judge Devereaux discharged the jury, stating it was in the interests of justice that the trial cannot continue at this time. The indictment was adjourned to Friday 24 November 2017 with a view to re-listing the matter for trial early next year.
Editor's note 11:
On 14 June 2018, a further editor's note 5b was inserted to update the chronology and outcome of proceedings.
Editor's note 12:
A new trial date to hear the charges against Andrew Young has been allocated to commence 30 July 2018, with a pre-trial mention on 22 June 2018.
Editor's note 13:
On 22 June 2018, the matter was mentioned in the Brisbane District Court when the trial was ordered to commence on 27 August 2018, with a further pre-trial mention on 3 July 2018.
Editor's note 14:
The matter was mentioned in the Brisbane District Court on 3 July 2018 where the trial, that was to commence on 27 August 2018, was formally vacated. The matter will be mentioned again on 17 August 2018.
Editor's note 15:
On 17 August 2018, the matter was adjourned for further mention until 26 October 2018.
Editor's note 16:
The matter was mentioned in the Brisbane District Court on 26 October 2018. The trial was listed to commence on 29 April 2019, with a further mention of the matter on 1 November 2018.
Editor's note 17:
The matter was mentioned in the Brisbane District Court on 1 November 2018. The trial is still listed to commence on 29 April 2019, however there will be a further mention of the matter on 14 February 2019.
Editor's note 18:
On 5 April 2019, the commencement date of the trial was vacated. On 15 April 2019, the trial of Andrew Young was relisted to commence on 3 June 2019.
Editor's note 6:
On 14 May 2019, THE trial to commence 3 June 2019 was delisted and a new trial is due to commence on 16 September 2019.