Dat Dean Nguyen, of Logan, Queensland, appeared on 6 November 2026 at the Beenleigh Magistrates’ Court charged with failing to comply with an ASIC creditor-defeating disposition order to return a vehicle to a company’s liquidator.

On 3 December 2025, ASIC made the order requiring Mr Nguyen to return a Honda Odyssey to the liquidator of Verotti Pty Ltd ACN 607 057 170 (in liquidation) within 20 business days of receiving the order.

The order was made at the liquidator’s request after ASIC determined the transfer of the vehicle to Mr Nguyen was a voidable creditor-defeating disposition. In making that decision, ASIC was satisfied that Mr Nguyen had paid no consideration for the vehicle and that the transfer prevented it from being available for the benefit of the company’s creditors.

The order was intended to restore the vehicle to the company so the liquidator could realise its value for the benefit of creditors. ASIC’s power to make these orders provides a way to recover company property that has been disposed of in a manner that defeats creditors’ interests.

ASIC alleges Mr Nguyen failed to comply with the order, which was made by ASIC under section 588FGAA(3) of the Corporations Act.

The matter is being prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP), following an ASIC referral.

This is the first prosecution of this offence by ASIC.

Compliance with these orders is important to the recovery of company assets in liquidation. Failing to comply can undermine the liquidation process and prevent assets from being made available for the benefit of creditors.

Background

A ‘creditor-defeating disposition’ is a disposal of company property that prevents, hinders or significantly delays that property from becoming available for the benefit of creditors in the winding up of the company.

ASIC can make orders undoing the effect of a voidable creditor-defeating disposition by a company that has had a liquidator appointed and is being wound up: see section 588FGAA of the Corporations Act. ASIC may exercise this power on its own initiative or at the request of the company’s liquidator.

ASIC can make one or more of the following orders against the person who received the property:

• An order directing the person to transfer to the company the property that was the subject of the disposition.
• An order requiring the person to pay to the company an amount that, in our opinion, fairly represents some or all of the benefits that the person received (directly or indirectly) from the disposition.
• An order requiring the person to transfer property to the company that, in our opinion, fairly represents the application of proceeds of the property that was the subject of the disposition.

It is a criminal offence to fail to comply with an order made by ASIC.

The matter has been adjourned to 4 December 2026.