ASIC Charges Limebrook Corporation with Financial Reporting and Company Officer Obligations Breaches

Limebrook Corporation Ltd has been charged with five counts of failing to meet its financial reporting obligations and one count of failing to have the required number of company officers.

ASIC alleges that Limebrook failed to lodge annual reports with ASIC for its financial years ended 23 October 2016, 23 October 2017, 23 October 2018, 23 October 2019 and 23 October 2020 within the required timeframes.

ASIC further alleges that between 2 February 2018 to 8 February 2022, Limebrook failed to meet the legal requirement to have at least three directors appointed to the company and at least two directors that ordinarily reside in Australia.

As a public company, Limebrook is required to provide financial reports to ASIC within 4 months after the end of each financial year and meet minimum officeholder requirements. These rules are in place to promote investor confidence and support the integrity of Australia’s financial system.