COMPANY directors Alwyn Robert Healy and Richard Douglas Wheeler, both of Wanneroo, have been banned from managing any company for five years.

Mr Healy and Mr Wheeler were both directors of the failed companies Healy Airconditioning Pty Ltd, Comfort Breeze Airconditioning Pty Ltd and Solar Evap Australasia Pty Ltd.

Healy Airconditioning was put into liquidation on February 14 2002 with debts of $5.255 million while Comfort Breeze went into liquidation on July 1 2002 with debts of $593,424.

Solar Evap was put into liquidation on February 26 with debts of $733,508. This followed a successful winding up application by the Australian Securities and Investments Commission in the Federal Court.

On Febrary 25 Mr Healy and Mr Wheeler entered into a Part 10 agreement with their creditors under the Bankruptcy Act.

Under the Corporations Act, entering into a Part 10 agreement automatically disqualifies a person from managing companies until their creditors have been paid.

ASIC’s additional banning action precludes Mr Healy and Mr Wheeler from freeing themselves to manage companies by making a final payment under the agreement.

ASIC director enforcement Mark Steward said Mr Healy and Mr Wheeler had a long history of failed dealings with creditors.

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