ASIC has disqualified Graeme John Doble, of Gymea Bay, NSW, from managing corporations for the maximum period of five years due to his involvement in the failure of six companies.
Between May 1984 and August 2023, Mr Doble was a director of the following companies:
- Zentry Pty Ltd ACN 638 451 760
- Seville Optimised Solutions Pty Ltd ACN 620 072 737
- Christina Administration Pty Ltd ACN 151 686 752
- Doble Express Transport Pty Ltd ACN 002 751 751
- DXT (NSW) Pty limited ACN 159 257 655
- Green Gables Cootamundra Pty Ltd ACN 102 593 644
Doble Express Transport operated a transport, trucking and freight forwarding business. DXT (NSW), Seville Optimised Solutions and Zentry operated labour hire businesses. Christina Administration operated as a research and development business. Green Gables Cootamundra operated in the transport, postal and warehousing industry.
ASIC found that Mr Doble acted improperly and failed to meet his obligations as director when he:
- improperly used his position as a director of Doble Express Transport, Seville Optimised Solutions and Zentry to gain an advantage for himself or others, which caused detriment to the companies
- was involved in a tax avoidance scheme for the benefit of his family business
- allowed DXT NSW and Zentry to continue operating when those companies were insolvent
- failed to ensure that Doble Express Transport and Seville Optimised Solutions complied with its statutory obligations to lodge income tax returns with the Australian Taxation Office (ATO)
- caused or allowed Doble Express Transport, DXT NSW, Seville Optimised Solutions and Christina Administration to fail owing debts to the ATO, Revenue NSW and unpaid workers compensation premiums
- failed to make out and submit a Report on Company Activities and Property and failed to deliver books and records in his possession to the liquidator of Seville Optimised Solutions, and
- failed to take reasonable steps to ensure Zentry kept adequate books and records.
At the time of ASIC's decision, the six companies owed a combined total of $15,170,970.00 to unsecured creditors, including $8,041,582.90 to the ATO, $580,938.25 to Revenue NSW and $773,567.14 in unpaid workers compensation premiums.
In disqualifying Mr Doble, ASIC relied on supplementary reports lodged by liquidators, David Sampson of BPS Recovery, Liam Bailey of O'Brien Palmer, Mitchell Ball of Mackay Goodwin and Andrew Spring of Jirsch Sutherland.
ASIC assisted Mr Sampson, Mr Bailey, Mr Ball and Mr Spring to prepare their reports by providing funding from the Assetless Administration Fund.
Mr Doble is disqualified from managing corporations until 4 September 2029.
Mr Doble 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
- practicing in the financial services or credit industry.
