Originally Posted by
Blackout
"They couldn't have been too advanced with that work otherwise you would have expected that they would have picked up the fact that Newco 2 wasn't dormant."
10. On 24 April 2019, Geoffrey Smith and Paul Scurrah, the directors of each of the Companies, signed declarations of solvency for the Companies (Declarations of Solvency). The Declarations of Solvency record that the Companies had no assets or liabilities as at 24 April 2019. Exhibited at Tabs 2 and 3 of Exhibit RJH-1 is a copy of the Declarations of Solvency for each of the Companies lodged with the Australian Securities and Investments Commission (ASIC) on 24 April 2019.
Yes, that's a point I think that I touched on earlier. The fact that Geoff Smith was still a director is odd in of itself; you would have thought that any and all such directorships would have transferred to Keith Neate when he came on board.
Separately, it is now clear that Scurrah and Smith in effect provided a false declaration. And Deloitte proceeded down the voluntary liquidation path for Newco 2 on the basis of that (false) declaration of solvency.