Professionals have acted with : 1. Malfeasance - Intentional conduct that is wrongful or unlawful 2. Nonfeasance - failure to act where there was a duty to act 3. Misfeasance - conduct that is lawful but inappropriate People who are not business minded often find financial matters challenging and intimidating. Your client, whose trade craft is ACTING, has never taken any interest in the family finances, paid a bill or contributed financially or even practically to our household or family life. I am the founder of the company, which phoenixed to avoid legal proceedings brought about by the debt that your client created in 2014/15. I alone had carried out the role of Managing Director. This is termed a shadow or deemed director with the same responsibilities and duties as an ASIC registered director. I presided over the company financials and manufacturing/production for over twenty years; for eight of those years the turnover was 3/4 million dollars. Your client did not appreciate that wages were $300,000 with overheads in the order of $300,000. Manufacturing is a challenging industry... ...The Applicant took no part or interest in my role and in later years, failed to carry out any more than the worst of the casual employees; in addition he sabotaged my business activities. After the disastrous outcome on the City of Ballarat rowing course debacle, your client never recovered his former 'working' life in the practical areas he excelled at. During January to June 2014 the company was paying wages to eight people for production of $500,000 of orders. Managing cash flow was challenging but on the 1st of July 2014, for the first time the Business Line Of Credit was paid off, the company had no debts and was owed $70,000 by the City Of Ballarat. We owned our factories in Lake Road, and my office in Victoria Place.
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