In the matter of Trinco (NSW) Pty Ltd (in liq) [2025] NSWSC 993 , the New South Wales Supreme Court found Mr Azizi to be a de facto director of Trinco (NSW) Pty Ltd (in liq) ( Trinco ) and liable for insolvent trading. Trinco’s liquidator was awarded compensation, payable by Mr Azizi.

This decision underscores that individuals exercising real managerial control, even without formal appointment as directors, may be deemed de facto directors and held personally liable for insolvent trading. With the increase in the number of companies in Australia in liquidation, especially in the construction sector, those operating behind the scenes (even as employees) must be clear about the demarcation of their role and or adopt rigorous financial oversight and governance practices to mitigate

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