Post: Restaurateur banned for four years

ASIC has disqualified Edoardo Perlo of Fortitude Valley, Queensland, from managing corporations for four years, after his involvement in three failed companies.

Mr Perlo was a director of three companies between 2015 and 2020:

Casa Gusto Pty Ltd (ACN 141 576 703) (de-registered) (‘Casa’);
SMC Drummoyne Pty Ltd (ACN 600 533 140) (‘SMC’); and
Popina Kitchen Pty Ltd (ACN 613 288 314) (‘Popina’).
All three companies were involved in the retail food industry in Sydney.

In relation to SMC and Popina, ASIC was concerned that Mr Perlo had traded the companies while insolvent, failed to meet statutory lodgement requirements to Australian Taxation Office (ATO) and keep proper business records.

The amount owed across the three companies totalled $2.8 million, including a total of $1.3 million to ATO and $162,000 for workers’ compensation insurance and payroll tax.

In deciding to disqualify Mr Perlo, ASIC relied on an initial statutory report lodged by liquidator Steven Kugel of The Insolvency Experts, who was appoint to Casa and supplementary reports lodged by liquidators Andrew Sallway of BDO Australia, who was appointed to SMC and Adam Preiner of Integra Restructuring and Insolvency, who was appointed to Popina. ASIC assisted the Mr Prelner to prepare his supplementary report by providing funding from the Assestless Administration Fund.

Mr Perlo is disqualified from managing corporations until 22 June 2027.

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