ASIC has commenced civil penalty proceedings in the Federal Court against Paul Ryan, director of Dixon Advisory & Superannuation Services Pty Limited, for alleged breaches of directors duties.
ASIC alleges Mr Ryan breached his duties as a director by his involvement in decisions ASIC alleges were to the advantage of Dixon Advisorys holding company, E&P Operations Pty Ltd, and by failing to properly consider the interests of Dixon Advisorys creditors. Mr Ryan was also a director of E&P Operations.
ASIC Deputy Chair Sarah Court said: Directors have responsibilities under the law to act in the best interests of their company, and this includes considering the interests of creditors when the company is facing insolvency.
The creditors includ…
Read the full article at: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-208mr-asic-sues-dixon-advisory-superannuation-services-pty-limited-director/