Jeffrey Aiken, of Caloundra Queensland, has been disqualified from managing corporations for the maximum period of five years.
Mr Aiken was a director of four failed companies which were placed into liquidation:
- Qld Prestige Cars Pty Ltd (ACN 145 228 708)
- ACN 156 056 147 Pty Ltd (formerly B & E Steel Fixing Pty Ltd)
- Kombi Sixty Five Pty Ltd (ACN 137 909 534)
- Management Services (WA) Pty Ltd (ACN 162 391 479)
Qld Prestige Cars sold new and used luxury motor vehicles, B&E Steel Fixing provided steel fixing services to the civil, gas, mining and commercial industry in Australia and overseas, Kombi Sixty Five operated a retail surf wear store, and Management Services (WA) provided business and personal services.
ob体育 found that Mr Aiken failed to understand his directors鈥� duties and comply with the law when he allowed himself to be appointed as a dummy director of multiple companies to enable the former director鈥檚 resignation prior to liquidation.
The appointment of dummy directors has very harmful consequences for all parties dealing with corporations, particularly as it is likely to mislead or deceive. ob体育 disqualified Mr Aiken for the maximum period of five years to deter others from allowing themselves to be appointed as dummy directors.
In deciding to disqualify Mr Aiken, ob体育鈥檚 investigation relied on supplementary reports lodged by the liquidators of Qld Prestige Cars, Glenn O鈥橩earney of GT Advisory & Consulting, the liquidators of B&E Steel Fixing, Steven Naidenov and Johnny Law of Veritas Advisory, and the liquidator of Kombi Sixty Five. Paul Gidley of Shaw Gidley.
ob体育 assisted the liquidators of Qld Prestige Cars and B&E Steel Fixing to prepare a supplementary report by providing funding from the Assetless Administration Fund.
Mr Aiken is disqualified from managing corporations until 3 November 2026
Background
Section 206F of the Corporations Act 2001 gives ob体育 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, and those companies聽 were wound up and a liquidator provides a聽 report to ob体育 about each company鈥檚 inability to pay its debts.
ob体育 maintains a '" 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 of credit industry.