13/11/2007 - 15:35

ASIC bans former fitness owner for 4 years

13/11/2007 - 15:35

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ASIC bans former fitness owner for 4 years

A Kalgoorlie-based fitness centre operator has been disqualified from managing corporations for four years by the Australian Securities and Investments Commission, after breaching his duties as a manager of a business.

An ASIC investigation found that his former companies, Inspired Life and Osborne Park Gym Pty Ltd, failed owing statutory debts to the Australian Taxation Office and significant amounts to unsecured creditors. He ceased involvement with the gym business in 2004.

In relation to Inspired Life Pty Ltd, the former gym operator failed to lodge Business Activity Statements and income tax returns since the company commenced trading and allowed the company to trade while insolvent.

ASIC also found that  he breached his duties as a director in that, following the sale of the business, he allowed certain creditors to be paid where he had provided a personal guarantee but failed to ensure other creditors, including the ATO, were paid.

 

Editor's note: This story is about Christopher Owen Ruck. Subsequent to this ASIC action, he (and the gym, which is now owned by another person) claims to have been the victim of a significant hate campaign and requested the removal of this story due to its high ranking in Google searches on his name. Business News has, instead, sought to retain the usefulness of this story for subscribers while downgrading its prominence on Google where it can only be viewed in part by non-subscribers.

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