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Thursday 23 December 2021

21-371MR Transport company director banned from managing corporations for three and a half years

Philip Michael Dixon of Wodonga, Victoria, has been disqualified from managing corporations for three and a half years following his involvement in six failed companies.

Mr Dixon was a director of the following companies between 2004 and 2020, all of which operated in the transport industry:

  • M E Trading Pty Ltd (ACN 112 018 149);
  • Auspro Country Logistics Pty Ltd (ACN 128 944 552);
  • Auspro Logistics Trading Pty Ltd (ACN 119 654 992);
  • Mansfield Express Pty Ltd (ACN 130 844 656);
  • Auspro Logistics Services Pty Ltd (ACN 620 461 798); and
  • Auspro Transport Pty Ltd (ACN 620 572 894).

ASIC found that Mr Dixon failed to:

  • act with due care and diligence regarding M E Trading’s statutory lodgements and his obligation to keep the written financial records of M E Trading; and
  • deliver all books and records to the liquidators of M E Trading, Auspro Country Logistics, Auspro Logistics Trading and Mansfield Express as soon as practicable after the companies were wound up.

At the time of ASIC’s decision, the six companies owed unsecured creditors $9,345,537.58, including at least $940,221.05 owed to the Australian Taxation Office.

ASIC’s investigation relied on supplementary reports lodged by the liquidator of M E Trading, Mr Clifford Sanderson of Dissolve Pty Ltd. ASIC assisted the liquidator of M E Trading to prepare supplementary reports by providing funding from the Assetless Administration Fund.

Mr Dixon is disqualified from managing corporations until 6 June 2025.

Background

Section 206F of the Corporations Act 2001 gives ASIC the power to disqualify a person from managing corporations for up to five years if, within a seven-year period, the person was an officer of two or more companies that were wound up and the liquidators lodge reports with ASIC about each company’s inability to pay its debts.

ASIC also maintains a banned and disqualified persons register that provides information about people who have been disqualified from:

  • involvement in the management of a corporations;
  • auditing self-managed superannuation funds (SMSFs); or
  • practising in the financial services or credit industry.

 

Last updated: 23/12/2021 12:00