ASIC bans NSW director after company failures

Graeme John Doble of Gymea Bay, NSW, has been disqualified from corporate management for five years by ASIC due to his involvement in six company failures.

Six companies led by Doble collapse over 39 years

Doble held director positions at six companies between 1984 and 2023, including Zentry, Seville Optimised Solutions, and Doble Express Transport.

The failed businesses operated in sectors ranging from labour hire and research to freight forwarding and transport.

Improper conduct and insolvency

ASIC’s investigation revealed that Doble misused his director roles for personal or external gain, participated in a tax avoidance scheme benefiting his family business, and allowed some companies to operate while insolvent.

Additionally, Doble neglected to ensure statutory obligations like lodging tax returns and paying workers’ compensation premiums were fulfilled.

Financial debts to tax authorities and creditors

At the time of ASIC’s decision, the companies owed over $15 million to unsecured creditors. This included more than $8 million owed to the Australian Taxation Office (ATO) and nearly $800,000 in unpaid workers’ compensation.

Liquidators and ASIC’s role

Liquidators from firms such as BPS Recovery and Mackay Goodwin submitted detailed reports, with ASIC providing financial assistance to support their investigations. These reports were key to disqualifying Doble.

Doble’s right to appeal

Doble retains the right to appeal ASIC’s decision through the Administrative Appeals Tribunal. His ban from corporate management will be in place until September 2029.

Background on disqualification laws

Under Section 206F of the Corporations Act, ASIC can ban a person from managing companies for up to five years if they are found to have been involved in multiple company collapses due to unpaid debts within a seven-year span. ASIC’s register lists individuals banned from corporate management and related industries.

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