Australia’s corporate regulator has banned Melbourne businesswoman Veronica Roberts from managing companies for five years following her involvement in four failed firms in the state’s construction sector, which left unsecured creditors owed about $3.5 million.
ASIC said Roberts was a director between 2018 and 2021 of Construction Victoria Pty Ltd (ACN 616 327 863), Crete Services Pty Ltd (ACN 619 313 147), Titan Victoria Construction Pty Ltd (ACN 629 620 391) — now de-registered — and Empire Plant Hire Pty Ltd (ACN 626 953 580). The companies operated in Victoria in the construction industry, with Titan specialising in labour hire.
The regulator found she failed to exercise proper care and diligence in the governance of Construction Victoria, Crete Services and Empire. It also determined that Construction Victoria and Crete Services did not keep and maintain adequate business books and records and were traded while insolvent. Roberts failed to assist the liquidator of Empire, ASIC said. Titan ended owing $983,000 to four unsecured creditors.
At the time of the decision, ASIC said the four companies’ unsecured debts totalled roughly $3.5 million, including about $1.2 million in unpaid wages, superannuation and other employee entitlements.
Roberts is disqualified from managing corporations until 2 September 2030. She has the right to seek a review of the decision by the Administrative Review Tribunal.
ASIC relied on statutory reports lodged by Stephen Dixon of Hamilton Murphy Advisory in relation to Construction Victoria, Crete Services and Titan, and by Mathew Gollant of CJG Advisory in relation to Empire.
Under section 206F of the Corporations Act, ASIC may disqualify a person from managing corporations for up to five years if, within a seven-year period, the person was an officer of two or more companies that were wound up and a liquidator reports each company’s inability to pay its debts.
ASIC maintains a public register of banned and disqualified persons covering those prohibited from managing corporations, auditing self-managed superannuation funds, or practising in the financial services or credit industry.
