The Australian Securities and Investments Commission (ASIC) has reported the first prosecution for failing to comply with one of its creditor-defeating disposition orders. Dat Dean Nguyen appeared at Beenleigh Magistrates’ Court on Nov. 6, 2026, charged with failing to return a Honda Odyssey to the liquidator of Verotti Pty Ltd.
ASIC issued the order on Dec. 3, 2025, at the liquidator’s request, requiring Nguyen to return the vehicle within 20 business days of receiving it. The regulator determined that the transfer was a voidable creditor-defeating disposition because Nguyen had paid no consideration and the transfer prevented the vehicle from being available for creditors’ benefit. The order sought to recover the vehicle so the liquidator could realise its value for creditors.
Failure to comply with an ASIC order under section 588FGAA(3) of the Corporations Act is a criminal offence. The Commonwealth Director of Public Prosecutions is prosecuting the case following an ASIC referral. The matter has been adjourned to Dec. 4, 2026.