Adrian M Cursio

Member’s name: Mr Adrian M Cursio
Date of Hearing: 31 March 2015
Division: Victoria
Tribunal: Disciplinary Tribunal

On 31 March 2015 the Disciplinary Tribunal found that:

• as set out in Article 39(a)(ii)E of the Constitution, Mr Adrian Mark Cursio was insolvent with unsecured creditors exceeding $13 million
• as set out in Article 39(a)(ii)B.2) of the Constitution, was guilty of conduct derogatory in:
  • failing to pay certain of his employees’ superannuation contributions (SGC) approximating $267,000, for which he became personally liable to the Australian Taxation Office (ATO) by way of directors penalty notice
  • failing to make provision for PAYG approximating $466,000, for which he became personally liable to the ATO by way of directors penalty notice.

Mr Cursio had been the managing director of various companies and related businesses which went into receivership around early 2013.

Mr Cursio attended the Disciplinary Tribunal Hearing and admitted his insolvency but denied the other Complaints.

Penalty and costs 

The Disciplinary Tribunal found the Complaints sustained and imposed the following penalties:

• in relation to his insolvency, forfeiture of Membership for later of 16 June 2017 or the period of his bankruptcy
• in respect of the SGC/ PAYG, forfeiture of Membership for an additional 12 months.

Mr Cursio was ordered to pay CPA Australia’s costs of $676 prior to any application for readmission to Membership.