ASIC has disqualified director Ian David Johnson, of Potts Point, New South Wales, from managing corporations for one year due to his involvement in the failure of nine companies.

Between May 2009 and August 2022, Mr Johnson was the director of nine companies:

• All Trades Queensland Pty Ltd (ACN 115 379 461),
• Force Corp Pty Ltd (ACN 109 630 079),
• Dial A Doctor Pty Ltd (ACN 611 930 093),
• Medical Services Perth Pty Ltd (ACN 160 583 835),
• Force Towers Pty Ltd (ACN 159 994 902),
• English & Leeds Pty Ltd (ACN 120 813 327),
• S.A. Access Equipment Pty Ltd (ACN 007 884 933),
• Minipickers Holdings Pty Ltd (ACN 150 280 416), and
• Equipment Rental Investments Pty Ltd (ACN 147 941 2687).

All Trades Queensland operated in the education and training industry, Dial A Doctor and Medical Services Perth operated in the health care and social services assistance industries, and the remaining companies operated in the construction industry.

ASIC found that Mr Johnson acted improperly and failed to meet his obligations as director when he failed to:

• ensure statutory lodgements by All Trades Queensland and Force Corp were made within time to the Australian Taxation Office;
• ensure employee entitlements were paid for Force Corp Pty Ltd; and
• prevent All Trades Queensland Pty Ltd and Force Corp Pty Ltd from incurring debts when they were insolvent.

At the time of ASIC’s decision, the nine companies owed a combined total of $29,656,729.98 to unsecured creditors, including $15,267,720.40 to the Australian Taxation Office.

In disqualifying Mr Johnson, ASIC relied on supplementary reports lodged by All Trade Queensland’s liquidator, Joanne Dunn of FTI Consulting, and Force Corp’s liquidator, David Lombe of Deloitte. ASIC assisted Mr Lombe to prepare his reports by providing funding from the Assetless Administration Fund (AAF).

Mr Johnson is disqualified from managing corporations until 23 August 2023.

Mr Johnson 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.

Editor's note 1:

This media release was amended on 8 September 2022 to clarify funding from the AAF was only provided to Mr Lombe, Force Corp's liquidator.