Michael Teys expresses deep regret at past commercial failings

Michael Teys has written to clients after ASIC disqualified him from being a director or officer of a company for a period of five years.

It followed the winding up of two companies of which he was a director. One was wound up in 2010 and the other in 2014.

He told clients neither company nor the events investigated were related to his work for them as a lawyer or his recent work as founder and director of Block Strata Pty Ltd.

Block Strata was formed after these events took place.

"I deeply regret my past commercial failings.

"However, I cannot change what has happened and must learn from my experience.

"Therefore, having co-operated fully with ASIC, I have resigned from all of my directorships and corporate roles and have decided not to appeal the disqualification."

Teys notified the management of Block Strata Pty Ltd would continue under Jacqui Bartholomeusz’ directorship and a new licensee-in-charge, Paul Loccisano, has been appointed.

However he signalled he would continue to serve Block Strata as its legal counsel and would maintain my private legal practice as a specialist in strata law.

In February ASIC disqualified Michael John Teys from managing corporations for five years following his involvement in the failure of three companies.