The Australian Securities & Investments Commission (ASIC) has disqualified Sydney director Katsuyoshi "Ken" Sadamatsu from managing corporations for five years after finding misconduct in relation to five failed companies in the accommodation and food services industries in New South Wales. The ban runs until 27 April 2031. At the time of ASIC’s decision, the companies owed unsecured creditors a combined AUD 4,375,875.63, including AUD 4,173,350.93 to the Australian Taxation Office and AUD 4,935.04 for workers compensation. ASIC found that Mr Sadamatsu failed to ensure four of the companies met their statutory obligations to the Australian Taxation Office, failed to maintain proper books and records across all five companies, and did not provide books and records to the liquidator of New I.N.G Consulting Australia Pty Ltd. It also found he sold a motor vehicle owned by New I.N.G Consulting Australia Pty Ltd below market value, sold the business and assets of four companies to related entities to those companies’ detriment, and failed to prevent Sake Enterprise Pty Ltd and New I.N.G Consulting Australia Pty Ltd from insolvent trading. The decision relied on supplementary reports from liquidators Paul Weston of DW Advisory and Steven Staatz of Vincents, while ASIC funded preparation of the statutory reports for Sake Enterprise Pty Ltd and New I.N.G Consulting Australia Pty Ltd through the Assetless Administration Fund. Mr Sadamatsu may seek a review of the decision by the Administrative Review Tribunal.
Australian Securities & Investments Commission 2026-05-11
Australian Securities & Investments Commission disqualifies Katsuyoshi Sadamatsu for five years over five failed New South Wales hospitality companies owing AUD 4.38 million
The Australian Securities & Investments Commission has disqualified Sydney director Katsuyoshi “Ken” Sadamatsu from managing corporations for five years, until 27 April 2031, for misconduct involving five failed accommodation and food services companies in New South Wales. ASIC found failures to meet statutory obligations to the Australian Taxation Office, inadequate books and records, asset sales below market value and to related entities to the detriment of the companies, and failure to prevent insolvent trading, with unsecured creditors owed AUD 4,375,875.63. Sadamatsu may seek review of the decision by the Administrative Review Tribunal.