ASIC Disqualifies Justin Brinkies from Managing Companies for 2 Years

The Australian Securities and Investments Commission (ASIC) recently announced that it has disqualified Justin Brinkies of Woodcroft, South Australia from managing companies for two years due to his involvement in the failure of seven companies.

Between 2010 and 2019, Mr Brinkies was a director of seven companies:

• Trojan Agile Group Pty Ltd ACN 603 412 577 (Trojan Agile);

• 75603366294 Pty Ltd [formerly Trojan Security (Aust) Pty Ltd] ACN 603 366 294 (Trojan Aust);

• ACN 622 609 116 Pty Ltd [formerly Trojan Security (AU/NZ) Pty Ltd] ACN 622 609 116 (Trojan AU/NZ);

• 59138153689 Pty Ltd [formerly Trojan Security ESM (QLD) Pty Ltd] ACN 138 153 689 (Trojan QLD);

• Trojan Alliance Pty Ltd ACN 158 858 925;

• CSA Traffic Solutions Pty Ltd ACN 147 775 568; and

• 94603355844 Pty Ltd [formerly Trojan Security (VIC/TAS Pty Ltd] ACN 603 355 844 (Trojan VIC/TAS).

Most of the companies were part of the Trojan group of companies that operated around Australia providing security services.

ASIC found that Mr Brinkies:

• Failed to ensure that Trojan Agile, Trojan Aust and Trojan AU/NZ complied with their obligations to lodge documents with the Australian Taxation Office (ATO);

• Failed to ensure that Trojan Agile and Trojan Aust made all superannuation guarantee contribution payments for their employees;

• Failed to ensure that Trojan Agile, Trojan Aust and Trojan VIC/TAS maintained adequate books and records;

• Caused the sale of the business and assets of Trojan Agile, Trojan Aust and Trojan VIC/TAS to Trojan AU/NZ without ensuring that consideration was received by those companies;

• Enabled related-party loans and director drawings to be made by Trojan Aust and Trojan AU/NZ in circumstances where the loans were not repaid or were unlikely to be repaid;

• Failed to prevent Trojan Agile, Trojan Aust and Trojan AU/NZ from incurring debts while they were insolvent; and

• Failed to provide Trojan Aust's liquidator with certain information as requested.

At the time of ASIC's decision, the seven companies owed unsecured creditors $6,978,545, which included approximately $3.5 million owed to the ATO.

​Mr Brinkies is disqualified from managing corporations until 14 September 2023.