ASIC bans two QLD directors from managing corporations
Adrian Coronno and Domenico Luvera have been disqualified from managing corporations for five years after involvement in four failed companies.
Coronno was disqualified from managing corporations until 16 December, 2025; while Luvera was disqualified until 10 January, 2026.
The companies – Global Income Assets (GIA), 360 Global, Freeport Property and Tradebridge - were involved in financial and insurance services, rental hire and real estate between 2010 and 2015.
At the time of the Australian Securities and Investments Commission (ASIC) decision, the four companies owed unsecured creditors more $1.5 million.
ASIC found:
- Coronno willingly consented to be a director of the four companies, but did not fulfil the duties and obligations of a director;
- Coronno and Luvera breached their director duties in respect to GIA by failing to exercise their powers and discharge their duties in good faith and in the best interests of the company and for a proper purpose; and
- Coronno and Luvera failed to ensure that GIA and 360 Global maintained adequate books and records.
AUTHOR
Chris Dastoor
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