It's been revealed two industry watchdogs had previously slapped bans on the director of Kingdom Developments, the company behind the failed bid to purchase Tamworth's Longyard Golf Course.
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In September 2012 the Australian Securities and Investments Commission (ASIC) hit Andrew Bodnar with a four-year ban from managing corporations.
The maximum suspension ASIC can give is five years.
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While the regulator cannot comment on the circumstances of the disqualification, a spokesman said it was due to the failure of previous companies.
The disqualification notice referred to section 206F of the Corporations Act, which allowed ASIC to issue the order if a person is an officer of two or more companies which were wound up and a liquidator provides a report about the companies inability to pay its debts.
A year earlier, in October 2011, the Fair Trading department revoked his real estate licence for eight years.
The decision to disqualify Mr Bodnar followed a NSW Fair Trading investigation, however a spokesman declined to issue the findings of the investigation.
Mr Bodnar said the disqualifications related to an incident where he agreed to look after the real estate business of someone who owed him money.
That business ended up in administration.
He sent ACM a copy of a bankruptcy annulment certificate and suggested that allowed him to trade again.
"I was able to prove everything to ASIC and the Real Estate Institute about what happened and I got an annulment," he said.
However, ACM understands the full disqualification periods were served in each instance. A Fair Trading spokesman said the annulment would have no effect on the length of the suspension.
ACM understands that Mr Bodnar did not start up Kingdom Developments until after those suspension periods were served.
Meanwhile, Mr Bodnar said he has just been employed as a project manager for a Chinese firm.
Before then, he said he had been living off credit cards in the wake of the collapse of Kingdom Developments.
"I've maxed out 80 grand on credit cards just to keep myself going, paying for groceries and necessities and bills like that," he told ACM.
"So I haven't been living off anything except credit until I can find a way forward again."
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Glen Humphries
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
I'm an award-winning senior journalist with the Illawarra Mercury and have well over two decades' worth of experience in newspapers. I cover the three local councils in the Illawarra for the Mercury, state and federal politics, as well as writing for the TV guide. If I'm not writing, I'm reading.
