A Melbourne-based, Greek-owned business empire including Gasmere, Arden Medical and Biotempus has entered voluntary administration, leaving the Australian Taxation Office pursuing $55.2 million in outstanding taxes and penalties.
According to The Herald Sun, the companies are linked to former ASX director Harry Hatgikyriazis, who declared bankruptcy in May 2025 and was disqualified from managing corporations for five years after pleading guilty to failing to disclose shareholdings in Equus Energy (formerly Copper Strike).
Hatgikyriazis was sentenced to six months in jail, although he did not ultimately serve any time.
Hatgikyriazis’ sister, Rania, has been the director of Gasmere, Arden Medical and Biotempus, since he was sentenced in November 2024. There is no suggestion of wrongdoing by Rania.
His mother, Theodora Hatgikyriazis, held a 95 per cent stake in Gasmere before her death in 2022.
Administrators Shaun Matthews and Daniel Juratowitch reported that Gasmere still holds at least $8.3 million in assets, mainly publicly listed shares, while Arden Medical and Biotempus have minimal debts but were unable to operate due to a Federal Court freezing order.
Gasmere had failed to lodge income tax returns from 2000 to 2017, prompting ongoing Federal Court proceedings and appeals.
The companies are now under administration, with creditors likely to consider liquidation next week.
Source: Herald Sun.
