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Telecommunications More legal woes for Chariot MD
Telecommunications More legal woes for Chariot MD | More legal woes for Chariot MD |
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| by Stuart Corner | |
| Tuesday, 25 July 2006 | |
  
Chariot announced to the ASX on 5 July that it was facing a claim from Transcom for alleged breach of contract and that two of its directors, Peter Buttery and Robert Horlin-Smith were also facing claims for pecuniary damages. Since then there have been conflicting claims by Transcom and Chariot about the two year history of their relationship. Transcom has accused Chariot of not making full disclosure to the ASX and has called on the ASX to investigate. Chariot has denied all the allegations. Now, Chariot has announced to the ASX that Horlin-Smith has been committed for trial on seven charges relating to allegations made against him by ASIC "whilst he was previously secretary of a company unrelated to Chariot Limited." The company said Horlin-Smith hadadvised the board "that these charges will be vigorously defended." Horlin-Smith was the company secretary of Normans Wines between 18 October 1994 and 24 December 1999. ASIC alleges that between June 1999 and October 1999, he: - failed to act honestly in the exercise of his powers and the discharge of the duties of his office with the intention to deceive or defraud the auditor of Normans Wines; - as a secretary and employee of Normans Wines, supplied misleading information to the company’s auditor; - as a secretary and employee of Normans Wines, supplied misleading information to the Australian Stock Exchange about the company; and - authorised the making of a statement in a document lodged with ASIC which was false or misleading. |
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