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Victorian firm’s director cops 2-year disqualification

The corporate regulator has banned the director of a Victorian capital advisory firm from managing corporations for two years.

Between 2015 and 2018, Dimitrios (James) Podaridis was the director of two companies that went into liquidation, including ICBC Capital that held an AFS licence, provided advisory services, raised capital and traded in shares.

ASIC found that Mr Podaridis breached his record-keeping obligations to both companies, “failed to actively participate in the [ICBC’s] management or take reasonable steps to monitor the company’s affairs” and “does not adequately understand a director’s duties”.

The total amount owed to creditors across both companies is estimated to be between $562,380 and $1.69 million.

Mr Podaridis is disqualified from managing corporations until 24 May 2023.