Freeport Property Pty Ltd

Company details

Name: Freeport Property Pty Ltd

ACN: 156480643

Status: External Administration

Locality:

Former names:

Documents lodged with ASIC

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Insolvency Appointments and Other Events

Event	Date	Appointee
Adrian Christopher Coronno and Domenico Luvera (also known as Domenico Giglio Luvara), both of Pacific Pines, Queensland, have been disqualified from managing corporations for five years after their involvement in four failed companies. The companies were involved in financial and insurance services, rental hire and real estate services between 2010 and 2015: - Global Income Assets Pty Ltd (ACN 162 284 059) (GIA); - 360 Global Pty Ltd (ACN 143 565 762) (360 Global); - Freeport Property Pty Ltd (ACN 156 480 643) (Freeport); and - Tradebridge 360 Pty Ltd (ACN 148 222 431) (Tradebridge). In making its decision, ASIC found that: - Mr Coronno willingly consented to be a director of the four companies but did not fulfill the duties and obligations of a director; - Mr Coronno and Mr Luvera breached their directors' duties in respect of 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 - Mr Coronno and Mr Luvera failed to ensure that GIA and 360 Global maintained adequate books and records. At the time of ASIC's decision, the four companies owed unsecured creditors more than $1.5 million. In making its decision to disqualify Mr Coronno and Mr Luvera, ASIC relied on reports lodged by the liquidator of GlA and 360 Global, Domenic Calabretta of Mackay Goodwin. ASIC assisted the liquidator in preparing the supplementary reports by providing funding from the Assetless Administration Fund. Mr Coronno is disqualified from managing corporations until 16 December 2025. Mr Luvera is disqualified from managing corporations until 10 January 2026.	09/02/2021

Capital Gains Tax Status

Event	Date
If you are a shareholder in this company, it is possible you may be able to realise a capital loss on your shareholding for Capital Gains Tax purposes. That would depend on the form of external administration, when you acquired the shares and how they were held, and the nature and amount of any distributions. While crystallising a loss often makes good economic sense, we recommend you seek professional advice before buying or selling securities. See here for further details or enquire to admin@delisted.com.au with the name of the company you hold the shares in.	21/08/2021

Event

Date

If you are a shareholder in this company, it is possible you may be able to realise a capital loss on your shareholding for Capital Gains Tax purposes. That would depend on the form of external administration, when you acquired the shares and how they were held, and the nature and amount of any distributions. While crystallising a loss often makes good economic sense, we recommend you seek professional advice before buying or selling securities. See here for further details or enquire to admin@delisted.com.au with the name of the company you hold the shares in.

21/08/2021

Australian proprietary company limited by shares