GNCC Capital Inc (GNCP)

[ctrumabll]

DD on Peter Voss background.

Looks like Voss will fit right in with Lumb & Lowenthal!

http://www.asic.gov.au/asic/asic.nsf/byheadline/04-373+Former+Brighton+director+banned+from+managing+corporations?openDocument

The Australian Securities and Investments Commission (ASIC) today banned Mr Peter David Voss, of Brighton in Victoria, from managing corporations for two years.

ASIC found that over the past seven years Mr Voss had been a director of Bio Engineering Pty Ltd, Stranti Investments Pty Ltd and Lakeview Estate Pty Ltd. Each of these companies went into liquidation and the liquidators reported they were unable to pay their creditors more than 50 cents in the dollar.

ASIC was also concerned that Mr Voss:

failed to ensure proper books and records were kept;
failed to remit statutory liabilities;
failed to assist the liquidator;
caused Bio-Engineering to enter into an uncommercial transaction which had the effect of disposing of its business; and
had been convicted of contempt in the Supreme Court of Victoria.

ASIC believed that in light of the above actions, Mr Voss' conduct demonstrated an improper disregard for the interests of creditors.

The Deputy Executive Director of Enforcement, Mr Mark Steward said ASIC took action to prevent Mr Voss from further misusing the corporate structure, and in doing so protect the public.

'ASIC will pursue directors of failed companies who disregard their obligations and we will take action to protect the public from irresponsible operators', Mr Steward said.

The decision follows a hearing where Mr Voss was given the opportunity to respond to ASIC's concerns.

Mr Voss has the right to lodge an application for a review of ASIC's decision with the Administrative Appeals Tribunal.

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http://www.theage.com.au/articles/2002/08/12/1029113894680.html

The words imprisonment or prison are used eight times or thereabouts in the latest judgment penned by Justice Bill Gillard.

But the person who "defiantly and contumaciously thumbed his nose at the court", one Peter David Voss, will not go to jail unless he fails to pay a $25,000 fine for criminal contempt of court.

As well, the judge awarded the toughest costs order that he could against Voss, chairman and managing director of the collapsed Dominion Capital and, until recently, occupier of a senior position with Dominion Wines, a company that makes wine in the Avenel region.

The background to the matter was that Pico Holdings, which had lent $US2.2 million ($A4 million) to Dominion Capital, sued Voss for damages, alleging false representations concerning security for loans.

Last September Justice Barry Beach restrained Voss from disposing of his assets other than for normal living expenses or payment of legal expenses to a maximum of $5000 a week.

One month earlier, Voss and his wife sold a Brighton property for $3,050,000. On December 3, a transfer of land was executed and the sale was completed.

The bulk of the settlement money flowed to National Australia Bank.

One of eight bank cheques that formed part of the settlement was made out to "K. Voss" - the wife of Peter Voss.

Three weeks later, Pico issued a summons seeking an order that Voss be punished for contempt of court for breaching Justice Beach's order dealing with the disposal of assets.

Justice Gillard found: "Mr Voss was aware of the date of settlement of the conveyance. He fully understood that the National Australia Bank had a mortgage over the property and had to be paid on settlement. Despite the presence of the order, Mr Voss proceeded with the conveyance.

"By carrying out this manoeuvre and entering into this arrangement with the bank and Mrs Voss, Mr Voss managed to divert money to his wife, which was jointly the monies of his wife and himself...

"Mr Voss defiantly and contumaciously thumbed his nose at the court and its order, and diverted money away from a potential judgment creditor."

Stating that the seriousness of the breach warranted a period of imprisonment, Justice Gillard said he did not propose to imprison Voss due to various mitigating factors, including that he supported a young family.

"I fine Mr Voss the sum of $25,000 and I order that he be committed to prison until the fine is paid... I will grant a stay of seven days to enable him to pay the fine."

M. Pearce , instructed by Herbert Geer Rundle, appeared for Pico Holdings. F. Parry, instructed by Mallesons Stephen Jaques, appeared for Voss.

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It also appears that Mr. Voss was raised in South Africa. Must be a great place to raise scammers.