´óÏóÊÓƵhas disqualified Mohamed Chabib, of Picnic Point, New South Wales, from managing corporations for a period of 5 years, after his involvement in four failed companies.

Mr Chabib was a director of four failed companies between 2017 and 2025: 

• J & B Management Pty Ltd (ACN 130 529 298) (J & B Management)
• M & C Management Pty Ltd (ACN 622 332 236) (M & C Management)
• Healthy Food Australia Pty Ltd (ACN 632 800 732) (Healthy Food), and
• Cessy Café Pty Ltd (ACN 633 896 867) (Cessy Café).

All four companies operated in New South Wales and were involved in the hospitality industry.

At the time of ASIC’s decision, the four companies owed a combined total of $1,113,756 to unsecured creditors. This included $486,201 owed to the ATO and $7,435 owed to the Workers Compensation Nominal Insurer.

´óÏóÊÓƵfound that Mr Chabib acted improperly and failed to meet his obligations as an officer when he: 

• failed to ensure that all companies paid their tax debts
• failed to ensure that J & B Management complied with their statutory lodgement obligations with the ATO
• failed to maintain books and records to allow for accurate financial statements to be prepared for all four companies
• failed to make a company vehicle of J & B Management available for collection by the liquidator
• improperly used his position of director by allowing payments to be made to the ATO from the bank account of J & B Management for debts that weren’t related to J & B Management, and
• allowed J & B Management and M & C Management to continue to trade whilst insolvent.

In disqualifying Mr Chabib, ´óÏóÊÓƵrelied on supplementary reports lodged by liquidator Nicarson Natkunarajah of Roger & Carson.

´óÏóÊÓƵassisted Mr Natkunarajah to prepare the statutory reports by providing funding from the Assetless Administration Fund.

Mr Chabib is disqualified from managing corporations until 28 April 2030.

Mr Chabib has the right to seek a review of ASIC’s decision by the Administrative Review Tribunal.

Background

Section 206F of the Corporations Act allows ´óÏóÊÓƵto disqualify a person from managing corporations for a maximum period of five years if, within a seven year period, the person was an officer of two or more companies, and those companies were wound up and a liquidator provides a report to ´óÏóÊÓƵabout each of the company’s inability to pay its debts.

Through enforcement action against selected directors who contravene s206F, ´óÏóÊÓƵdemonstrates that there are appropriate consequences for the mismanagement of small and large companies. ´óÏóÊÓƵcontinues to take targeted action against individual directors to protect the wider public, employees and other businesses against the future mismanagement of companies.

´óÏóÊÓƵmaintains a banned and disqualified persons register that provides information about people who have been disqualified from:

• involvement in the management of a corporation
• auditing self-managed superannuation funds (SMSFs), or
• practising in the financial services or credit industry.