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Wednesday 11 May 2022

22-108MR ASIC disqualifies Queensland building and construction industry director for three years

ASIC has disqualified construction industry director Tony Alexzander of Macgregor, Queensland, from managing corporations for three years after his involvement in four failed companies.

Between 2007 and 2022, Mr Alexzander was a director of:

  • A.C.N. 600 323 742 Pty Ltd (de-registered) (formerly Volcanic Constructions Pty Ltd),
  • A.C.N. 607 562 363 Pty Ltd  (de-registered) (formerly Total Blox Labour Hire Pty Ltd),
  • Freenay Pty Ltd (ACN 623 252 899), and
  • Total Blox Pty Ltd (ACN 128 191 622).

Volcanic, TB Labour Hire and Total Blox were involved in the construction industry. Freenay provided business and personal services.

ASIC found that Mr Alexzander failed to exercise his powers and discharge his duties with the requisite degree of care and diligence by:

  • allowing Volcanic Constructions and Total Blox Labour Hire to fail, with debts owed to unsecured creditors, including the Australian Taxation Office (ATO),
  • allowing Total Blox to continue trading whilst insolvent,
  • failing to ensure Freenay and Total Blox maintained adequate books, including lodgement of business activity statements and taxation returns with ATO.

The total amount owed to unsecured creditors, including the ATO, is in excess of $8.8million.

In disqualifying Mr Alexzander, ASIC relied on supplementary reports lodged by Total Blox’s liquidator, David Hambleton of Rodgers Reidy, Brisbane. ASIC assisted Mr Hambleton to prepare his report by providing funding from the Assetless Administration Fund.

Mr Alexzander is disqualified from managing corporations until 20 April 2025. Mr Alexzander has also been an undischarged bankrupt since 20 October 2021.

Mr Alexzander has the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.

Background

Section 206F of the Corporations Act allows ASIC to disqualify a person from managing corporations for a maximum period of five years if, within a seven year period, the person was an officer of two or more companies, and those companies were wound up and a liquidator provides a report to ASIC about each of the company’s inability to pay its debts.

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

  • involvement in the management of a corporation;
  • auditing self-managed superannuation funds (SMSFs); or
  • practising in the financial services or credit industry.
Last updated: 11/05/2022 12:25