Australian Securities & Investments Commission applies to wind up Liberty Bell Bay over repeated failures to lodge annual financial reports

The Australian Securities & Investments Commission (ASIC) has filed an application in the Supreme Court of New South Wales to wind up Liberty Bell Bay Pty Ltd after the company failed to lodge annual financial reports with ASIC. The application seeks winding up on just and equitable grounds. Liberty Bell Bay failed to lodge annual reports for the financial years ending in 2021, 2022, 2023 and 2024, and ASIC alleges it also failed to lodge the report for the year ending in 2025. In June 2025 ASIC obtained court orders to enforce compliance, but Liberty Bell Bay did not comply. ASIC noted that large proprietary companies generally must lodge a financial report and directors’ report within four months after the end of the financial year unless relief has been granted, and outlined the “large” thresholds of consolidated revenue of AUD 50 million or more, consolidated gross assets of AUD 25 million or more, and 100 or more employees. ASIC reiterated that financial reporting misconduct, including failures to lodge financial reports, is an enforcement priority for 2026 and that it will continue monitoring and taking regulatory action for ongoing non-compliance.