ASIC has disqualified former Queensland Senator Claire Mary Moore from managing corporations for four years arising from her role as a director of failed companies Warwick Gold Holdings Pty Ltd and Impact Gold Ltd.
Warwick Gold and Impact Gold entered liquidation in 2024 with substantial shortfalls, with Ms Moore appointed a director of both companies on 18 July 2023.
Both companies issued shares to raise funds for purported gold and precious metal mining operations in Papua New Guinea (Impact Gold) and Queensland (Warwick Gold). When the companies entered liquidation, $44 million had been raised from around 400 shareholders.
ASIC found that Ms Moore failed to meet her obligations as a director because her management of the companies fell well below the standard expected of Australian directors.
ASIC found that Ms Moore:
- failed to take part in the management of the companies (including making relevant enquiries and identifying operational and financial risk) and, in so doing, failed to monitor and guide the companies,
- failed to ensure that Impact Gold (as a public company) complied with its obligation to maintain adequate financial records, and
- failed to assist the liquidator by providing required information.
Ms Moore is disqualified from managing corporations until 17 December 2029.
Ms Moore has the right to seek a review of ASIC's decision by the Administrative Review Tribunal.
Background
Following the collapses of Warwick Gold Holdings and Impact Gold in February and September 2024, ASIC conducted a wide-ranging investigation intended to hold accountable those persons who were responsible for the companies' management and fundraising and, in turn, the substantial losses caused to shareholders and creditors.
As well as the disqualification of Ms Moore:
- On 14 July 2025, ASIC commenced proceedings in the Federal Court under s 206D Corporations Act 2001 to disqualify David Catsoulis, an officer of Impact Gold and Warwick Gold, from managing corporations (25-134MR). At all relevant times, Mr Catsoulis was the CEO of each of the companies. The maximum disqualification period under s 206D is twenty years and the final hearing for this matter has been listed to commence on 29 April 2026.
- On 9 December 2025, ASIC commenced proceedings in the Federal Court to restrain Mr Colin Oxlade and Spice Capital Partners Pty Ltd from providing unlicensed financial services (25-297MR). ASIC alleges Mr Oxlade was involved in fundraising for the companies. ASIC further alleges that (following the collapse of Warwick Gold Holdings and Impact Gold), Mr Oxlade and Spice Capital engaged in unlicensed financial services and raised approximately $1.5 million between February and July 2024.
