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A failure to pay taxes and allowing a company to trade while insolvent have resulted in a sole director being disqualified from managing companies for five years.
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Tax-dodging director barred from managing companies
09 April 2020
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8 minute read
Miroslav Gubas of Isaacs, from the ACT, has now been banned by ASIC from managing companies for five years following the failure of two companies.
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Mr Gubas was the sole director of Frenchy’s Bread Pty Ltd and Highup Pty Ltd, which were both placed into liquidation.
The companies had a combined total debt of $2.7 million owed to 91 creditors at the time liquidators were appointed.
In making the order to disqualify Mr Gubas, ASIC found he had failed to pay the ATO taxes and keep proper records, while also failing to assist liquidators after their appointment to the companies.
ASIC also found that Mr Gubas allowed a company to continue trading while insolvent, and that he had transferred $450,000 from the company bank accounts to a related company for no consideration, despite knowing that the companies owed statutory and creditor debts.
Mr Gubas’ disqualification took effect from 18 March 2020.
In making the order to disqualify Mr Gubas, ASIC relied on supplementary reports lodged by Alan Hayes of Hayes Advisory and Michael Slaven, formerly of Ernst & Young.
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