Regulatory Alerts2026-03-12
ASIC disqualifies Simon Raftery from managing corporations for two and a half years
The Australian Securities and Investments Commission disqualified Simon Raftery from managing corporations for two and a half years due to his directorship of five failed companies that owed approximately $43 million to creditors. ASIC determined that Raftery was aware of the insolvency of Aussie Frozen Fruit Pty Ltd yet allowed it to incur further debts, a finding supported by liquidator reports. Although Raftery applied to the Administrative Review Tribunal for a stay of the decision, the Tribunal refused the request while the substantive review remains ongoing.
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