media release (23-251MR)

ASIC disqualifies straw director for five years


ASIC has disqualified former electrical services director Sam Casella, of Bossley Park, NSW, from managing corporations for the maximum period of five years due to his involvement in the failure of three companies.

Between December 2015 and March 2023 Mr Casella was a director of three companies:

  • Roundelectrics Pty Ltd (ACN 160 411 389);
  • Spec Electrical Group Pty Ltd (ACN 609 669 310); and
  • Quattro Constructions Pty Ltd (ACN 642 288 953).

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

  • agreed to become the “owner” of assets and failed to carefully consider or enquire about what would be required of him;
  • was unaware that he was a director of Roundelectrics Pty Ltd from 26 August 2016 until 1 March 2022;
  • would sign documents concerning Roundelectrics Pty Ltd on instructions of an alleged shadow director without reading the documents;
  • had no knowledge of the affairs of Roundelectrics Pty Ltd; and
  • lacked control and accountability concerning Roundelectrics Pty Ltd which led to him being involved in:
    • the failure to keep proper records
    • the transferring of assets without proper consideration
    • insolvent trading
    • significant debts owed to statutory bodies.

At the time of ASIC’s decision, the three companies owed a combined total of $1,521,320.21 to creditors, including $1,048,044.2 owing to the Australian Taxation Office and other statutory creditors.

In disqualifying Mr Casella, ASIC relied on a supplementary report lodged by Spec Electrical Group Pty Ltd’s liquidator, Domenic Calabretta of Mackay Goodwin. ASIC assisted Mr Calabretta to prepare his reports by providing funding from the Assetless Administration Fund.

Mr Casella is disqualified from managing corporations until 31 August 2028.

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


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
  • practicing in the financial services or credit industry.
Media enquiries: Contact ASIC Media Unit