Director of shuttered MSP disqualified for phoenix activity

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Director of shuttered MSP disqualified for phoenix activity

The director of a now shuttered Gold Coast-based IT services provider has been disqualified by the Australian Securities and Investments Commission (ASIC) from managing corporations.

Damien John Harvie’s four year ban comes after his involvement in the failure of his two companies, HSS Security Pty Ltd and Synergy Integration, the IT services provider. His disqualification took effect from 27 February 2020.

Synergy Integrations fell into liquidation in 2018 after failing to pay $129,000 in taxes as part of a total of $174,000 owed to unsecured creditors.

The company provided IT, security, analytics, telephone initial setup and ongoing maintenance to clients in the Gold Coast area, with operations in Upper Coomera and Ormeau in Queensland.

ASIC found that Harvie failed to maintain proper company records, kept Synergy Integrations operational whilst insolvent, and misused the corporate form when he transferred the business to another company, leaving insufficient assets to pay creditors.

The companies had a combined total debt of more than $1.1 million owed to creditors, upon the appointment of liquidators.

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