6. July 2011 13:53
ASIC has obtained orders in the Federal Court of Australia to wind up York Capital Limited (York) following the company’s failure to lodge its financial reports and hold annual general meetings for the past three years.
On 29 June 2011, the Federal Court of Australia ordered that York be wound up and appointed Mr Paul Burness of Worrells as liquidator.
The court’s orders follow an ASIC investigation into York’s failure to prepare and lodge audited financial reports and director’s reports and hold annual general meetings from 30 June 2008 to date. York also failed to appoint the statutory minimum of three directors and comply with a court order dated 9 June 2009 which required financial accounts be lodged with ASIC within 28 days.
ASIC’s action reflects its commitment to ensuring companies demonstrate openness and transparency and keep investors well informed.