Justin Brinkies, who managed companies that owe creditors about $7m, banned for two years by ASIC

The co-founder of an Adelaide cleaning and security company – whose companies owe nearly $7m – has been banned from running a corporation for two years.

Banned company director Justin Brinkies pictured at the Ice Arena at Thebarton.

The co-founder of Adelaide based security and cleaning services company Agile Group Justin Brinkies has been banned from managing a corporation for two years.

The Australian Securities and Investments Commission on Friday said Justin Benjamin James Brinkies, of Woodcroft, has been disqualified from managing corporations for two years for his involvement in seven failed companies.

Most of these were part of the Trojan group of companies, which ASIC said operated around Australia providing security services.

“At the time of ASIC’s decision, the seven companies owed unsecured creditors $6,978,545, which included approximately $3.5 million owed to the Australian Taxation Office,’’ ASIC said.

“At the time of ASIC’s decision, Mr Brinkies was already disqualified from managing corporations by virtue of being a bankrupt since September 2019.’’

Mr Brinkies said on Friday that he had bought a Queensland company some years ago, with the director of that company keeping “two sets of books”.

The director of that company subsequently took his own life, leaving Mr Brinkies with a large amount of debt.

Mr Brinkies said he had taken responsibility for the issues and had negotiated with ASIC regarding his disqualification.

ASIC said between 2010 and 2019, Mr Brinkies was a director of seven companies which were: Trojan Agile Group, Trojan Security (Aust); Trojan Security (AU/NZ), Trojan Security ESM (QLD); Trojan Alliance; CSA Traffic Solutions, and; Trojan Security (VIC/TAS).

ASIC found that Mr Brinkies:

FAILED to ensure that Trojan Agile, Trojan Aust and Trojan AU/NZ complied with their obligations to lodge documents with the Australian Taxation Office (ATO);

FAILED to ensure that Trojan Agile and Trojan Aust made all superannuation guarantee contribution payments for their employees;

FAILED to ensure that Trojan Agile, Trojan Aust and Trojan VIC/TAS maintained adequate books and records;

CAUSED the sale of the business and assets of Trojan Agile, Trojan Aust and Trojan VIC/TAS to Trojan AU/NZ without ensuring that consideration was received by those companies;

ENABLED related-party loans and director drawings to be made by Trojan Aust and Trojan AU/NZ in circumstances where the loans were not repaid or were unlikely to be repaid;

FAILED to prevent Trojan Agile, Trojan Aust and Trojan AU/NZ from incurring debts while they were insolvent; and

FAILED to provide Trojan Aust’s liquidator with certain information as requested.

Mr Brinkies is disqualified until 14 September 2023.

Originally published as Justin Brinkies, who managed companies that owe creditors about $7m, banned for two years by ASIC