Ex Nauru Airlines chairman in corporate watchdog probe

It looks like the ousted chairman of Brisbane-based Nauru Airlines might have some explaining to do with the corporate watchdog launching a ‘misconduct’ probe.

Trevor Jensen, former chairman of Nauru Airlines

IT looks like Trevor Jensen, who was ousted as chairman of Brisbane-based Nauru Airlines last week, might have some explaining to do to the corporate watchdog.

ASIC records show Jensen signed papers in August last year referring to himself as a director of Sunco Pty Ltd Holding Inc, which is a holding entity for the carrier’s five 737-300 aircraft.

The papers involved Sunco cutting ties with financial advisory firm Kidmans Partners Pty Ltd and appointing Nauru Airlines Maintenance Services Pty Ltd as a “new agent’’.

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But there’s just a wee problem with all this.

Jensen wasn’t a director of Sunco at the time.

Trevor Jensen’s declaration has raised questions.

Yep, corporate documents reveal that he didn’t actually become a director of Sunco until February 21 this year. Whoops!

This apparent slip up has prompted an irate stakeholder to lodge a complaint with ASIC, which confirmed in writing last week that it had forwarded the material “to our Misconduct and Breach Reporting team for assessment.’’

A City Beat spy told us that each of the aircraft used to be registered to separate holding companies but, earlier this year, Jensen changed that arrangement and had them all registered to Sunco.

“Having all the aircraft under the control of a single group raised many eyebrows as to the intent of such a move,’’ our source told us.

“It meant the directors of the original holding companies no longer had a say in how the individual aircraft were dealt with.’’

Jensen and his three fellow directors in Sunco were removed from those positions last Friday by the new government in Nauru.

That move took place the same day that the government also revoked the appointments of Jensen and the rest of the airline’s board.

The dramatic change, overwhelmingly welcomed by airline staffers, followed the firing of two top executives in the Brisbane headquarters a day earlier.

Critics allege that Jensen, an aviation industry veteran who took the chairman’s job early last year, presided over a toxic work environment that prompted plenty of the troops to head for the exits.

Jensen, who has previously denied these allegations, could not be reached for comment yesterday.