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ASIC bans Queensland lawyer for 2 years
The corporate watchdog has disqualified a Queensland lawyer for two years over his involvement in three companies that entered liquidation.
Emma Musgrave
William Hanron Redmond has been disqualified from managing corporations until 18 October 2024. The ban comes due to his involvement in the failure of three companies: Redlaw Australia Pty Ltd, Red Lawyers Pty Ltd, and Red Capital Partners Pty Ltd, of which he was the director.
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Red Lawyers formerly operated the law practice of Redmond & Redmond, while Redlaw was the service entity to support Redmond & Redmond. Red Capital Partners provided business and personal services.
An Australian Securities and Investments Commission (ASIC) investigation found that between October 2016 and July 2020, Mr Redmond failed to meet his director obligations when he: “failed to inform himself of, and monitor, Red Lawyers’ and Redlaw’s compliance with their Australian Taxation Office (ATO) lodgement obligations; caused harm to Redlaw by failing to take steps to seek the repayment of a loan to another company, of which he is the sole director; and gained an advantage when he transferred the business of Redmond & Redmond from Red Lawyers to another company of which he is the sole director”.
The investigation relied on supplementary reports lodged by Redlaw Australia’s liquidator, Andrew Weatherley of WCT Advisory Group, and Red Lawyers’ liquidators, Clare Birnie and John Shanahan formerly of Gervase Consulting, in disqualifying Mr Redmond.
“The three companies were wound up owing a combined total of approximately $1.85 million to creditors, including $601,028 owing to the ATO,” an ASIC statement said.
“Mr Redmond has the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.”
