Aggregated News From Investment Management Regulators

Victorian director charged with making a false statement to ASIC

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Former director of Knight & Day Eating Pty Ltd, Timothy Lee Knight, of Ivanhoe East, Victoria, has been charged with making a false or misleading statement to ASIC.

It is alleged that in May 2019, Mr Knight lodged a Form 6010 with ASIC to voluntarily deregister Knight & Day Eating, in which he falsely or misleadingly claimed that the company had no outstanding liabilities.

At the time, it is alleged that Knight & Day Eating had outstanding liabilities of $225,293.00 owing to Knight & Day PropertyPainting Pty Ltd. Mr Knight is the sole director of Knight & Day PropertyPainting.

On 10 August 2018, Knight & Day PropertyPainting Pty Ltd was placed into administration and on 3 September 2018 its creditors resolved that the company be wound up.

As a result of Knight & Day Eating being deregistered, Knight & Day PropertyPainting and its creditors subsequently lost the opportunity to recover debts owed by Knight & Day Eating.

The matter was heard in the Heidelberg Magistrates Court on 20 October 2021. The matter was previously heard on16 June 2021 and continued on 18 August 2021, however Mr Knight failed to appear.

The matter is listed for further mention on 16 March 2022.

Commonwealth Director of Public Prosecutions is prosecuting the matter.

Background

At the time of the conduct, making a false or misleading statement to ASIC contrary to s1308(2) of the Corporations Act 2001 (Cth) carried a maximum penalty of five years imprisonment.

Knight & Day Eating has been deregistered. It held ACN 611 316 333.

This news item was originally published by the Australian Securities and Investments Commission (ASIC AU). For more information, please see the Source Link.

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

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