Transfer of Shares in Company

Discussion in 'Commercial Law Forum' started by Free From Narc, 28 April 2018.

  1. Free From Narc

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    Hi,
    An accountant has recently arranged for the transfer of my company shares to be reallocated to another person, via ASIC, without my knowledge, and contrary to court orders made only weeks earlier (of which the accountant was in attendance).
    It was some time before I realised what he had done, and it took issuing an enforcement order and 4 months before the ASIC documents to be reversed.
    However during that time, the entire legal structure of the company had been restructured, together with the registration a new company, where all invoice transactions are filtered.
    All debt is being filtered via the old company which has been removed from the trust, and the Director is now innocently requesting my consent to liquidate the old company.
    The liquidator stated there is a large ATO debt, and all machinery and equipment has been sold.

    Can anyone advise what recourse I have against these two?
     
  2. Rob Legat - SBPL

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    Go straight to ASIC and tell them what’s happened. From what you’ve said the accountant has fraudulently stolen your shares.
     
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  3. Free From Narc

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    Hi, Thanks for you advice, I did actually speak ASIC when I first realised this had occurred, and they weren't interested.
    It's definitely left me floundering, but I'll give them another go this week. Thanks again
     
  4. Adam1user

    Adam1user Well-Known Member

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    Engage a lawyer, this is a tricky issue and you don't want to do something that may cost you more, of course this depends on the value of the shares in questions, is it worth spending the cost of the lawyer which you can get back from the people who wronged you (most of it anyway), so best thing to do is engage a lawyer and don't leave it to people giving you directions, also they don't have the whole story.
     
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  5. Rod

    Rod Lawyer
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    You have suffered the loss due to the actions of the accountant and hopefully you have put others on notice of the fraud. You need to services of a good civil lawyer to see what is the best remedy. With a liquidator involved and probably moving quickly to sell your property you should avoid delays.
     
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