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Director issued 2-year ban over $250m debt

Director issued 2-year ban over $250m debt

A Queensland director whose companies owed creditors more than $250 million has been banned from managing companies for two years.

by Shared by Accountants Daily | 11 Jul, 2021

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ASIC has disqualified William McDonald of Clayfield, Queensland, from managing companies until 24 June 2023 for his involvement in the failure of six companies: MCG Group Pty Ltd, Wonky Donkey Pty Ltd, MCG Quarries Pty Ltd, Fortrus Resources Pty Ltd, B. McDonald (NO.2) Pty Ltd, and MCG Plant Pty Ltd A.C.N.