Mark McIvor fined and convicted for failing to assist liquidator
The founder and former director of Equititrust Limited, Mr Mark McIvor, has been convicted and fined $10,000 after failing to assist the liquidator appointed to his three companies.
Mr McIvor, of the Gold Coast, was found guilty in the Brisbane Magistrates Court on 22 August 2014, following six charges laid by ASIC for failing to provide a Report as to Affairs (RATA) and deliver books and records to the liquidators of Chevron Capital Pty Ltd, MHSM Holdings Pty Ltd and SM Capital Pty Ltd within 14 days of the winding up order for each company.
Commissioner Greg Tanzer said, ‘Mr McIvor’s conviction was one of 143 criminal actions taken by ASIC over the past six months against directors of proprietary limited companies who had breached their obligations under the Corporations Act 2001.
‘If a company fails and goes into liquidation, the directors are required to provide assistance to the appointed liquidator so that creditors can be paid and any misconduct can be identified’.
Further information regarding ASIC’s enforcement action from 1 January to 30 June 2014 can be found in its half-yearly report.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
Source: ASIC
