The Australian Securities & Investments Commission (ASIC) has commenced proceedings in the Federal Court seeking to disqualify David John Catsoulis from managing corporations, alleging his conduct as an officer of Warwick Gold Holdings Pty Ltd and Impact Gold Ltd contributed to their failures. ASIC alleges Mr Catsoulis was an officer of the companies between 2021 and 2024, during which they purportedly conducted mining operations in Papua New Guinea (Impact Gold) and Queensland (Warwick Gold). Under his management, the companies allegedly entered into binding disadvantageous agreements that ultimately contributed to their collapse; both were ordered to be wound up in 2024 with substantial shortfalls. ASIC is seeking a disqualification order under section 206D of the Corporations Act, under which the maximum disqualification period is 20 years. The first case management hearing is listed for 23 July 2025.
Australian Securities & Investments Commission 2025-07-14
Australian Securities & Investments Commission seeks Federal Court order to disqualify David Catsoulis from managing corporations
ASIC has initiated Federal Court proceedings to disqualify David John Catsoulis from managing corporations, citing his alleged mismanagement of Warwick Gold Holdings Pty Ltd and Impact Gold Ltd. Under Catsoulis's leadership from 2021 to 2024, the companies engaged in disadvantageous agreements leading to their collapse in 2024. ASIC seeks a disqualification order under section 206D of the Corporations Act, allowing for a maximum disqualification of 20 years. The first case management hearing is scheduled for 23 July 2025.