The company behind a controversial housing development north of Hobart claims it is in the "process of restructuring" because two of its owners are facing criminal charges in Canberra.
The Australian Securities and Investment Commission (ASIC) register shows Matthew William Byrne of Googong, 32, of NSW and Sebastian Srna, 36, of Garran ACT, own two-thirds of the development company MBH Group (TAS), which is subdividing a large block of land near New Norfolk in Tasmania called The Fairway.
Mr Byrne and Mr Srna appeared in the ACT Magistrates Court on March 7.
Mr Srna faces 11 charges including drug trafficking, firearms offences, possessing stolen property, possessing property suspected of being the proceeds of crime and supplying anabolic steroids.
Mr Byrne's charges include drug trafficking and dealing with money suspected to be the proceeds of crime.
The ASIC register lists Mr Byrne as a director and secretary of MBH Group (TAS) who also owns one third of the shares in the company. Mr Srna is listed as owning another third of the company's shares.
MBH Group (TAS) was registered with ASIC in March 2022.
The company's residential development The Fairway provoked outrage amongst affordable housing advocates last month, due to the project's use of restrictive covenants on the land.
The Fairway contracts of sale specifically prevent the land from being used for public or social housing.
The remaining third of MBH Group (TAS) is owned by Canberra businessman Anthony Niravong.
ASIC lists Mr Niravong as a Director and Secretary of MBH (TAS).
The ABC contacted Mr Niravong to determine what roles Mr Byrne and Mr Srna play in MBH Group (TAS) and whether he supports their ongoing involvement with the company.
Last month, Mr Niravong provided a company statement that declared Mr Byrne and Mr Srna would no longer be working on The Fairway development.
"MBH Group (TAS) is in the process of restructuring," the statement on February 20 read.
"Matthew William Byrne and Sebastian Srna will no longer be associated with this project."
Mr Niravong did not provide any details on the nature of the company restructure or whether Mr Byrne and Mr Srna would remain owners.
The statement said "updated company particulars will be available in due course."
Contact forbidden between two accused
Three weeks later, ASIC has not been advised of any changes to the ownership or governance structures of MBH Group (TAS).
Sebastian Srna and Matthew William Byrne still each own one third of the company.
Mr Byrne remains listed as company director and secretary.
The court proceedings for Mr Byrne and Mr Srna will be heard separately and bail conditions prevent the two owners from having any contact with one another.
Final settlement on the land purchase for The Fairway project is yet to be completed.
MBH Group (TAS) has paid a deposit for the block of land at New Norfolk, with settlement due by the end of June this year.
Mr Byrne and Mr Srna will return to the ACT Magistrates Court on April 4.
