ASIC has disqualified two unrelated directors for multiple company failures that left almost $11.5 million in debts including more than $9 million to the ATO.
Athina Bragiannis of Preston, Victoria, has been banned for three and a half years for involvement in the failure of two property development companies, Cleveland Lodge Developments and Bellbird Estate Holdings, and one holding entity, Rococo Hawthorn No 1.
The three entered liquidation between October 2017 and February 2018 owing a combined total of $8,684,516.52 to unsecured creditors, including $7,902,469.35 to the ATO. Ms Bragiannis was a director since early 2012.
ASIC found that Ms Bragiannis acted improperly and failed in her obligations as a director:
- She executed financ…
Read the full article at: https://www.accountantsdaily.com.au/regulation/18996-asic-bans-directors-for-multiple-company-failures-11-5m-in-debts