Media release: NSW (Cruickshank): Bankrupt pleads guilty to two offences under the Bankruptcy Act

Thursday, June 23, 2016

Mr Cruickshank omitted to disclose that he had been a director of SYMFY Pty Ltd and had earned an income from the company.

Mr Cruickshank failed to disclose information about ‘A Window to Your Womb’, a business carried on by SYMF Pty Ltd.

Mr Cruickshank was convicted on both charges.

He was sentenced to 10 months imprisonment for failing to correctly disclose to his trustee, information relating to his company and the income he received from this and 8 months imprisonment for failing to disclose his directorship of SYMF Pty Ltd.

Mr Cruickshank was ordered to serve both sentences concurrently by way of an Intensive Corrections Order.

In passing sentence, Magistrate Huntsman emphasised the need to deter other bankrupts from engaging in the same conduct, noting that bankrupts failing to disclose information to their trustees could bring the whole system ‘grinding to a halt’.

The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecutions.