Geoffrey Nicholas Gabriel and Australian Security Commission [1997] AATA 424 (24 October 1997)

Geoffrey Nicholas Gabriel and Australian Security Commission [1997] AATA 424 (24 October 1997)

Indeed, the applicant represents a classic case of the person who does not appear to understand that the law regarding fitness to be a director is designed for the present and future protection of the public and is not intended to be punitive in nature."

"Mr Gabriel has shown and continues to show a lack of any appreciation of the duties of a director of a company under the Corporations Law."

The applicant stated in his oral evidence he understood that most unsecured creditors had been satisfied in full, in many cases by the provision of free air time. He provided no substantiation for this belief, nor is any apparent from the material before the Tribunal. The applicant was given an opportunity to call witnesses to support his assertions, but did not avail himself of that invitation.

He could not recall recent matters of simple provenance: e.g. concerning his relationship to various family companies, and whether or not substantial loans were made between companies. This cavalier approach was reflected in his demeanour in giving evidence and in his general attitude, providing confirmation that, despite extensive experience as a company director, he failed to comprehend the obligation of a director to ensure that at least the information about a company which is required to be on the public record, and to those who might deal with it, is accurate.