AB may be more interested in saving his own skin now, given the...

AB may be more interested in saving his own skin now, given the directors have handed over control to the administrators.

Disqualification from managing corporations

If a director has been involved with two or more companies that have gone into liquidation within the last seven years and paid their creditors less than 50 cents in the dollar, ASIC may disqualify them from managing corporations for up to five years. This effectively bans a person from acting as a director.