Post: ASIC disqualifies director of Cairns-based tour companies from managing companies for maximum five-year period

ASIC has disqualified Mr Leigh Jorgensen of Cairns, QLD, from managing companies for the maximum period of five years as a result of his involvement in three failed companies.

Mr Jorgensen was a former director of:

A.C.N. 156 455 828 Pty Ltd – ACN 156 455 828, formerly known as North Trek Tours;
Cairns Tour Bookings Pty Ltd – ACN 607 849 301; and
Tudoods Pty Ltd – ACN 112 831 124.
Mr Jorgensen used the companies to operate a tour business in and around the Cairns region. The companies were placed into liquidation between 11 April 2012 and 27 January 2017.

The total amount of debts owed by the companies to creditors amounted to approximately $1.1 million.

ASIC found that Mr Jorgensen:

Failed to exercise his duties as a director with due care and diligence;
Failed to ensure that proper financial records were kept;
Failed to deliver books and records to the liquidators;
Failed to make the required lodgements with, or pay taxes to, the Australian Taxation Office.
In reaching its decision, ASIC relied on reports that were lodged by the liquidators of the failed companies.

Mr Jorgensen’s disqualification took effect from 27 April 2019 and extends to 26 April 2024.

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