Perth mining boss Michael Fotios has been declared bankrupt after a long-running battle with the Australian Taxation Office.
The Federal Court ordered yesterday his estate be sequestrated under the Bankruptcy Act, after an application by the Deputy Commissioner of Taxation. Mr Fotios declined to comment.
The bankruptcy will automatically disqualify him from being a director, including his chairmanships of listed entities Redbank Copper and Horseshoe Metals.
WestBusiness reported in February that Mr Fotios had been fined $51,500 in the Perth Magistrates Court after pleading guilty to seven Commonwealth tax charges.
The charges were for failing to lodge documents with the tax office relating to one of his private companies Delta Resource Manag…
Read the full article at: https://thewest.com.au/business/deal-maker-michael-fotios-declared-bankrupt-ng-b881184195z