ASIC has disqualified Andrew Liam Parry of Wentworth Falls from managing corporations for five years due to his involvement in the failure of four companies.
Between June 2014 and July 2023, Parry was the director or officer of four companies that entered liquidation.
They include On Solar Aus Pty Ltd, Australian NBN Synergy Pty Ltd, Beem Pty Ltd, and BTC Mines Australia Pty Ltd.
ASIC found that Parry was a shadow director of On Solar from August 13 2020.
"On Solar was in the business of procuring and managing the sale and installation of solar power systems. Synergy was in the business of information media and telecommunications, and both Beem and BMA were in businesses related to Bitcoin mining," an ASIC statement said.
At the time of ASIC’s decision, the four companies owed the combined amount of $11,085,390 of which $6,169,090 was owed to 42 unsecured creditors. Most unsecured creditors were small businesses.
In disqualifying Parry, ASIC relied on a supplementary report lodged by liquidator, Desmond Teng of the liquidator's office, Byrons (formerly Moore Australia).
Byrons assisted in preparing the report after ASIC approved funding from the Assetless Administration Fund.
Parry is disqualified from managing corporations until May 2029.
