Post: NSW Central Coast construction services directors disqualified

ASIC has disqualified Anthony Murray and his son, Danny Luke Murray, of Martinsville, NSW, from managing corporations for 4 years, after their involvement in two failed companies.

Between 2007 and 2019, Anthony Murray was a director of two failed companies:

MKD Custom Stainless & Design Pty Ltd (ACN 615 206 025) (de-registered) (MKD); and
Site Engineering Solutions Pty Ltd (ACN 128 274 724) (SES).
Between 2014 and 2019, Danny Luke Murray was a director of SES and another failed company, Custom Stainless and Design Pty Ltd (ACN 602 858 846) (CSD).

The three companies operated on the NSW Central Coast. MKD and CSD provided fabrication and installation services for commercial and residential use. SES provided construction services to the mining, construction and manufacturing industries.

ASIC was concerned that both directors failed to ensure that each of their companies kept sufficient business records, that Anthony Murray allowed SES to trade while insolvent and that subsequently, Danny Murray allowed SES to incur debts which the company was unable to pay. ASIC was also concerned that both directors had been involved in illegal phoenix activity when assets were transferred from another, unrelated company, Dr McCool Pty Ltd (ACN 135 921 694), to CSD and later to MKD, leaving the previous company without the means to pay its debts.

The amount owed across the three companies totalled $1.6 million, including a total of $748,000 owed to the Australian Taxation Office.

In deciding to disqualify Mr Anthony Murray and Mr Danny Murray, ASIC relied upon statutory reports lodged by Travis Pullen of TJP Advisory Pty Ltd, Brisbane, who was appointed liquidator of MKD; Chad Rapsey, of Rapsey Griffiths Turnaround & Insolvency, Newcastle, who was appointed liquidator of SES and Simon Cathro of Worrells Solvency and Forensic Accountants, Sydney, who was appointed liquidator of CSD. ASIC assisted each liquidator to prepare his supplementary report by providing funding from the Assetless Administration Fund.

Both persons are disqualified from managing corporations until 16 October 2027.

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