Queensland bankrupt convicted for failing to file Statement of Affairs

 

On 20 September 2019, Mr Zivko Stojakovic pleaded guilty to failing to file a Statement of Affairs at the Brisbane Magistrates Court.

He was fined $1,500 for the offence.

Mr Stojakovic, of Coorparoo in Queensland, became bankrupt by order of the court on 26 April 2018 following a petition from the Australian Taxation Office over unpaid debts in excess of $250,000.

The Official Trustee in Bankruptcy was appointed as trustee of Mr Stojakovic’s bankrupt estate.

In February 2019, Mr Stojakovic was served with documents notifying him of his obligations under Australian bankruptcy laws, including the requirement to file a Statement of Affairs with the Australian Financial Security Authority (AFSA).

He failed to file a Statement of Affairs, and was subsequently served charges in May 2019 for contravening the Bankruptcy Act 1966 (Cth).

The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecutions (CDPP) on behalf of the Australian Financial Security Authority (AFSA).

The matter was adjourned on five occasions before being heard on 20 September 2019.

In sentencing, Magistrate Hay cited Mr Stojakovic’s timely guilty plea, and noted that there was limited evidence to put great weight on what the CDPP submitted was similar relevant offending.

AFSA’s Director of Enforcement, Ms Gemma Denton, highlighted the importance of obligations under the Bankruptcy Act.

“The Statement of Affairs contains essential information about a bankrupt individual – including contact details, income information, asset descriptions and debts owed,” Ms Denton said.

“Mr Stojakovic’s failure to submit a Statement of Affairs is a serious offence in the context of his bankruptcy.

“AFSA, in partnership with the Commonwealth Director of Public Prosecutions, is committed to investigating and prosecuting those who deliberately circumvent their obligations or misrepresent their circumstances.”

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Useful links:

Bankruptcy Act 1966 (Cth)

Mr Stojakovic pleaded guilty to one charge under section 54(1) of the Bankruptcy Act 1966 (Cth).

 

AFSA Enforcement snap-shot 2018-19

In 2018-19, 96 persons were prosecuted for a total of 145 charges during the year. Of those charges, 11 were withdrawn, 122 proven with conviction, 4 proven without conviction, 7 were dismissed and 1 not proven.

Media contact:

Please email media [at] afsa.gov.au or phone 0408 105 665.