Director pleads guilty to breaching directors’ duties

Following an ASIC investigation, Mr Mark Hucherko, of Seaham NSW, has pleaded guilty to breaching his directors’ duties.

Mr Hucherko is the former director of Tru Flow Plumbing and Excavations Pty Ltd which later became Tru Flow Plant and Hire Pty Ltd (the Company). Mr Hucherko was charged with breaching his director duties for transferring a vehicle from the Company to another at below market value in October 2015.

This conduct is commonly referred to as illegal phoenix activity.

Mr Daniel Quinn of SV Partners was appointed as the liquidator to the Company on 30 September 2015, and the Company’s total liabilities at that time were $609,965.

Mr Quinn provided a statutory report to ASIC and assisted with the investigation.

Background

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions and was heard at the Newcastle Local Court on 28 September 2020.

At the time of the conduct, a contravention of s184 (2) of the Corporations Act 2001 attracted a maximum penalty of 200 penalty unit or imprisonment for 5 years, or both.

The matter has been adjourned for sentencing on 29 October 2020.

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