Denise Anne Halfpenny of Rawson, Victoria, has been disqualified from managing corporations for four years after her involvement in three failed companies.
Between 2013 and 2015, Ms Halfpenny was a director of:
- Chipotley Pty. Ltd. A.C.N 606 368 290 (Chipotley);
- NAC Consult Aust Pty. Ltd. A.C.N 607 020 422 (NAC Consult); and
- Resilient Training Pty Ltd A.C.N 163 387 282 (Resilient Training).
Chipotley and NAC Consult were involved in the labour hire industry, and Resilient Training provided education and training services.
In making its decision, ASIC found that, in relation to Chipotley and NAC Consult, Ms Halfpenny:
- Failed to pay tax debts and failed to meet the companies’ statutory lodgement obligations;
- Executed poor financial management by allowing the companies to:
- transfer over $4.5 million between July 2015 and July 2016 to an unrelated corporate entity in circumstances where there was no clear benefit to either company; and
- traded while insolvent.
- Failed to comply with her record keeping directors’ duties.
Resilient Training failed in June 2016 and Chipotley and NAC Consult both failed in September 2017.
The total amount owed to creditors across all three companies is estimated to be more than $7.5 million, of which approximately $4.8 million is owed to the Australian Taxation Office.
In making the decision to disqualify Ms Halfpenny, ASIC relied on supplementary reports lodged by the liquidator of Chipotley and NAC Consult, Steven Naidenov of Aston Chace Group. ASIC assisted the liquidator to prepare supplementary reports by providing funding from the Assetless Administration Fund.
Ms Halfpenny is disqualified from managing corporations until 29 July 2025.
Section 206F of the Corporations Act gives ASIC the power to disqualify a person from managing corporations for up to five years if, within a seven year period, the person was an officer of two or more companies that were wound up and the liquidators lodge reports with ASIC about each company’s inability to pay its debts or alleging misconduct.
ASIC maintains a banned and disqualified persons register that provides information about people who have been disqualified from:
- involvement in the management of a corporation;
- auditing self-managed superannuation funds (SMSFs); or
- practicing in the financial services or credit industry.