Stephen Wright

A Perth director of six companies that were wound up owing $100 million to creditors has dropped a challenge to his disqualification by ASIC, after unsuccessfully arguing before the Full Court that an email from the corporate regulator forwarded by his lawyer did not constitute proper service.

An email from the corporate regulator forwarded to a Perth businessman by his lawyer constituted proper notification that the executive had been disqualified, an appeals court has ruled in tossing a challenge to the method of service.