media release (16-449MR)

Former Noodle Box franchisee allegedly engaged in illegal phoenix activity

Published

Ms Amy Timko, of Spreyton, Tasmania, appeared at the Court of Petty Sessions in Hobart on 16 December 2016 charged with two counts of fraudulent conduct under the Corporations Act 2001.

Ms Timko, a former sole director of A Twisted Little Company Pty Ltd (ATLC), operated a number of Noodle Box franchises in Northern Tasmania. Following an ASIC investigation, it is alleged that Ms Timko:

  • entered into a Bill of Sale to sell the plant and equipment of ATLC for $30,000 to another company;
  • had authorised the plant and equipment to be transferred to the other company without receiving the $30,000;
  • placed ATLC in liquidation soon after the plant and equipment was transferred to that other company; and
  • reassigned a number of leases entered into by ATLC to operate Noodle Box stores to the other company, which was contrary to a franchise agreement entered into between ATLC and the franchisor, Noodle Box Franchising Australia Pty Ltd.

The effect of the transfer of the plant and equipment and reassignment of the leases meant that creditors of ATLC may have been denied access to its assets.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.

The matter has been adjourned to 23 March 2017 for plea.

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