Australian Securities and Investments Commission v Project Management (Aust) Pty Ltd [2019] FCA 47

Australian Securities and Investments Commission v Project Management (Aust) Pty Ltd [2019] FCA 47

The sixth and seventh defendants were each officers of two or more corporations when those corporations failed, and their conduct or abrogation of directorial oversight was wholly or partly responsible for the failures; accordingly, disqualification from managing corporations is justified for five and a half years for Mr Grochowski (by consent) and four years for Mr Stephens.

Jurisdiction
Australia
Judgment Date
30 January 2019
Procedural Posture
Civil Corporations Disqualification Application / Judgment Following Contested and Consented Disqualification Hearing
Outcome
Orders made disqualifying the sixth defendant from managing corporations for five and a half years and the seventh defendant for four years.
Legal Topics
['director Disqualification' 'corporate Governance' 'corporate Insolvency' 'management of Failed Corporations']
['corporations Law'] ['director Disqualification' 'corporate Governance' 'corporate Insolvency' 'management of Failed Corporations']

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Procedural Posture

Civil Corporations Disqualification Application / Judgment Following Contested and Consented Disqualification Hearing

Legal Issues

  1. 1 ['Whether the sixth and seventh defendants should be disqualified from managing corporations under s 206D of the Corporations Act 2001 (Cth)' 'Whether the agreed period of disqualification for Mr Grochowski is appropriate' 'Whether the order sought in respect of Mr Stephens should be made']

Ratio Decidendi

The sixth and seventh defendants were each officers of two or more corporations when those corporations failed, and their conduct or abrogation of directorial oversight was wholly or partly responsible for the failures; accordingly, disqualification from managing corporations is justified for five and a half years for Mr Grochowski (by consent) and four years for Mr Stephens.

Court Disposition

Orders made disqualifying the sixth defendant from managing corporations for five and a half years and the seventh defendant for four years.

Orders

  • ['Sixth defendant (Michael Stefan Grochowski) disqualified from managing corporations for five years and six months from the date of the order.' 'Seventh defendant (Ian Edward Stephens) disqualified from managing corporations for four years from the date of the order.' 'The matter is listed for mention at a later...