Management: Former company director continued exercised functions while disqualified
Mr Christopher Kallonas has been convicted of managing a company whilst disqualified. Kallonas was a director of failed ATM supply company Smartcash Australia Pty Ltd and was made personally bankrupt. But he continued to participate in the management of the company, the Court found.
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Kallonas was found guilty on 15 September 2011 in the Melbourne Magistrates’ Court of one charge of managing a company while an undischarged bankrupt contrary to section 206A(1)(a) of the Corporations Act 2001 (Corporations Act). He was fined $2,000.The Court found that Kallonas, despite being disqualified, participated in decisions that affected a substantial part of the business of Smartcash, including decisions in relation to an agreement between Smartcash and Multelink Services Pty Ltd. and agreements with merchants. Kallonas has been an undischarged bankrupt since 25 July 2000.
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