News Updates

$13 million property development fundraiser wound up in insolvency
The Supreme Court of Queensland yesterday ordered the winding up of Brisbane-based company, Neovest Ltd (Neovest) on insolvency and just and equitable grounds, following an application by ASIC in November 2007. The Court appointed Mr Jonathan McLeod as liquidator. Mr McLeod had been appointed voluntary administrator by the directors of Neovest on 10 January 2008.

ASIC disqualifies Queensland director from managing corporations
ASIC has disqualified Queensland director, Mr Stephen Brian Randall, from managing corporations for three years. Mr Randall, of Balmoral, Queensland, was the sole director of Europe Style Homes (ESH) and Premium Building Solutions, which were involved in providing project management and construction services to a group of companies known collectively as the ‘Superior Wealth Creation Group’.

Gabrial Neil Pennicott in Melbourne Court following extradition from Canada
Mr Gabrial Neil Pennicott, formerly of Melbourne, Victoria, appeared in the Melbourne Magistrates Court on 21 December 2007 on charges brought by ASIC following his extradition from British Columbia, Canada.

ASIC bans six directors in March
ASIC has disqualified six directors from managing corporations during March following their involvement in failed companies.

Registration of Sydney liquidator cancelled
The registration of Sydney liquidator, Mr Joseph Sleiman, has been cancelled following an application to the Companies Auditors and Liquidators Disciplinary Board (the CALDB) by ASIC.