Anthony Murray and his son, Danny Luke Murray, from Martinsville, NSW, have been banned by ASIC from managing corporations for four years due to their involvement in two failed companies.
From 2007 to 2019, Anthony served as a director for two failed companies, MKD Custom Stainless & Design, which was de-registered, and Site Engineering Solutions (SES). Danny was a director for SES and another failed company, Custom Stainless and Design (CSD), between 2014 and 2019.
All three companies operated on the NSW Central Coast, with MKD and CSD offering fabrication and installation services for commercial and residential applications, and SES providing construction services to the mining, construction, and manufacturing industries.
In a media release, ASIC said it was concerned about both directors’ failure to ensure sufficient business records, Anthony allowing SES to continue trading while insolvent, and Danny subsequently allowing the company to incur debts it couldn’t repay.
The corporate watchdog said it was also concerned about both directors’ involvement in illegal phoenix activity, when they moved assets from an unrelated company, Dr McCool, to CSD, and later to MKD, leaving the previous company without the means to meet its financial obligations.
The combined debt across the three companies amounted to $1.6 million, including $748,000 owed to the Australian Taxation Office.
The ASIC decision to disqualify Anthony and Danny were based on statutory reports lodged by appointed liquidators Travis Pullen of TJP Advisory, Brisbane, for MKD, Chad Rapsey of Rapsey Griffiths Turnaround & Insolvency, Newcastle, for SES, and Simon Cathro of Worrells Solvency and Forensic Accountants, Sydney, for CSD.
In support of each liquidator's supplementary report, ASIC provided funding from the Assetless Administration Fund.
The ASIC ban for both Anthony and Danny Murray is effective until Oct. 16, 2027.
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