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ASIC - Getting the devil ousted

  1. lizwelsh

    327 Posts.

    Rather than pay a lawyer or god forbid read the Companies Act, do any of you hotcopperites know how to save my friend's company from the devil. Here is the scenario....

    It is a company with two directors bought off the shelf in the mid eighties. The directors used to be married until the wife became a lesbian voiding the whole affair - sorry folks that is the only juicy twist I can disclose here. One director (the devil) has a bad debt judgement in say the sum of $25,000 (incidentally owed to the lawyer). The other director (the angel) wrote to the lawyer asking for the devil to provide information on the company but of course nothing was supplied to the angel. The angel needs to get rid of the devil and has funded the $100K of company losses thus far and obviously want the company for good reasons. The angel and devil used to be married before the devil ran off with devil no2. Devil no2 has found her way through a form 304 to be a director, such form being lodged by the devil without the angel's knowledge or consent. The devil has basically run off with all the company records two years ago, placed fraudulent returns for 2000, 2001 and 2002 with the ATO and new accountants (the sculduggeries). Of course the angel cannot prove much without getting the paperwork back from the devil and perhaps calling in the ATO to see if they can get hold of the paperwork for the angel is the only solution. Just to twist the knife a bit more the company's banker has misplaced the angel's signatory to the company's bank account and the angel cannot get acces to any information on the bank account.

    And yet another twist. The angel held shares with TD Waterhouse that were fraudulently sold and banked by the devil. The devil's bankers has failed to supply the requested deposit slip proving the angel deposited a cheque made to the devil's name and it is feared this evidence will be lost along with the signatory form. How does one force TD Waterhouse to advise the name of the person who phoned up to request the trade? TD Waterhouse have said they do not supply this information to the angel. Can ASIC find out for the angel who phoned up TD Waterhouse and placed the sell order? Can the banking ombudsman find the missing copy of the deposit slip for the angel?

    What ASIC form or process would do the job to get rid of the devil and the devil2 once and for all from the company? Does the bad debt judgement do the job or the ATO returns filed without the angel's knowledge, or perhaps even the shares held in the angel's name sold fraudulently by the devil?

    That's it I give up for now. I'm going to the casino and will await your helpful responses. You can email me at [email protected] if desired.

    Thanking you in anticipation of your assistance.

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