File Details
ACN/Estate#:
NSW/515/22/3
Office Name:
Wollongong
Trading Name
None known
Principal
Stephen Hundy
Admin Type
Debtors petition
Manager:
Crystal Wright
Start Date
12/04/2022
Exec Analyst
Crystal Wright
Status
Active
Contact Person
Zoe Gargett
Industry
Unknown
Appointee
Stephen Hundy
I want to
File Summary
We advise that the objection to the discharge from bankruptcy previously lodged by us as Bankruptcy Trustees has now been withdrawn, following compliance by the bankrupt with our requests.The bankrupt will now be discharged under the provisions of the Bankruptcy Act 1966, which provide for discharge 3 years after the lodgement of the bankrupt’s Bankruptcy Form.
General information on Objections to Discharge can be obtained on the Fact Sheets page on our website.
Stephen Hundy
Trustee
---------------------------
We refer to appointment as Trustees in bankruptcy of Duy Vuong Nguyen.
We have lodged an objection to the discharge of the bankrupt. This objection has the effect of extending the period of the bankruptcy until 13 April 2030. The objection was lodged due to failure to provide certain information as required under the Bankruptcy Act 1966.
We may withdraw this objection if the bankrupt subsequently complies with the requirements that formed the basis of the objection.
General information on Objections to Discharge from Bankruptcy can be obtained on the Fact Sheets page on our website.
Stephen Hundy
Trustee
---------------------------
We refer to previous correspondence issued to creditors and advise that voting in relation to the proposals without a meeting ended at 5pm on 6 June 2022.
The following proposals were approved by creditors:
Remuneration of the Trustees from 12 April 2022 to 12 May 2022 in the amount of $14,151.46, inclusive of GST.
Future remuneration of the Trustees from 13 May 2022 to the finalisation of the administration of the estate up to the capped amount of $18,848.54, inclusive of GST.
Work will now continue in the following areas:
selling assets (if any)
recovering any available property
monitoring income contributions (if any)
investigating the bankrupt’s affairs (subject to funding).
To assist us with our investigations please e-mail us on crystal.wright@worrells.net.au regarding any matters you believe should be investigated. A further update will be provided to creditors in the event of any significant developments in relation to this matter.
Stephen Hundy
Trustee
---------------------------
On 13 May 2022 we issued our initial report on the Bankrupt Estate. Contact us if you would like a copy of the report sent to you directly.
In this report we are seeking resolutions to be passed by creditors in this estate for fee approval by a proposal. Please review the notice of proposals within the report and submit details of your vote online or by mail.
Closure of voting: 5.00PM on 6 June 2022
Amount of fee approval sought (fees to date): $14,151.46 inclusive of GST
Amount of fee approval sought (further interim): $18,848.54 inclusive of GST
Annual administration charge: $100 inclusive of GST.
If you have any queries, please contact our office.
Stephen Hundy
Trustee
---------------------------
Daniel Cvitanovic and I were appointed Trustees of the above Bankrupt Estate on 12 April 2022.
Please check your records and advise us whether you are owed any money by the Bankrupt.
A detailed Statutory Report will be issued as soon as our initial investigations have been completed. This should occur within the next 4 weeks.
We are currently working on:
• Recovery of the records of the Bankrupt
• Realisation of any physical assets
• Collection of amounts due to the Bankrupt
• Investigation into offences
• Investigation into potential void transactions
Please contact our office if there are any matters that you believe should be investigated. We will report on these matters in later advices to creditors.
Stephen Hundy
Trustee
---------------------------
Name of Bankrupt: NGUYEN, Duy Vuong
Estate No: NSW/515/22/3
Our File Number: 32148
Office handling file: Wollongong
Office Address: Suite 1, 151 Tongarra Road, Albion Park NSW 2527
Manager on File: Crystal Wright
PH (02) 4257 6076
EM crystal.wright@worrells.net.au
FX (02) 4210 8616
Your Questions answered
Reasons for Insolvency
We curently have no reasons for the administration
Collections Summary
Debtors Collection
There are no debtors to collect on this file.
Scheduled Collections
There are no scheduled agreements in place for this file.
Income Assessments
| Start | End | Assessment | Collected | Written Off | Transferred |
|---|---|---|---|---|---|
| 12/04/2022 | 11/04/2023 | $0.00 | $0.00 | $0.00 | $0.00 |
| 12/04/2023 | 11/04/2024 | $0.00 | $0.00 | $0.00 | $0.00 |
| 12/04/2024 | 11/04/2025 | $0.00 | $0.00 | $0.00 | $0.00 |
Meeting of Creditors
Future Meetings
A S.73 has been called for 07 April 2025 at 11:30 am at Worrells in Wollongong.
Past Meetings
A Proposal without a Meeting was called for 06 June 2022 at 05:00 pm.
Minutes of Meeting are made available shortly after each meeting and can be found in the Client Documents section below.
Creditor Information
| Received | Admitted | |
|---|---|---|
| Number of Creditors Recorded | 15 | |
| Number of PODs Claimed | 6 | 0 |
| Total of PODs Claimed | $184,829.00 | $0.00 |
| Total of Employee PODs Claimed | $0.00 | $0.00 |
| Total of Secured PODs Claimed | $0.00 | $0.00 |
| Total of Unsecured PODs Claimed | $184,829.00 | $0.00 |
If your debt in this estate is guaranteed by another party, and your guarantee contains a clause restricting that other party from proving their debt (if they have one) in this estate until your debt is paid, you must provide this office with a copy of that guarantee document before any meeting of creditors or payment of dividend.
Distribution Summary
Future Distributions
There are no future distributions for this file.
Past Distributions
There are no past distributions for this file.
Receipts and Payments Summary
Receipts Summary
| Account name | Total |
|---|---|
| Contributions Received | $20,000.00 |
| Upfront Indemnity | $20,000.00 |
| Total receipts | $40,000.00 |
Payments Summary
| Account name | Code | Total |
|---|---|---|
| ARC paid | B1 | $1,400.00 |
| Appointees Remuneration | $22,000.00 | |
| Printing, Stationery & Postage | B2 | $41.00 |
| Searches | B1 | $83.48 |
| Total payments | $23,524.48 |
Assets Summary
| Cash at Bank | $16,475.52 |
| Suspense | -$7,000.00 |
| Total assets | $9,475.52 |
Disbursement Summary
| Category | Code | Total ($) |
|---|---|---|
| External - Non-Professional | B1 | $1,483.48 |
| Internal | B2 | $41.00 |
Disbursements are divided into three types: A, B1, B2.
- A - disbursements are all externally provided professional services and are recovered at cost. (e.g.legal fees)
- B1 - disbursements are externally provided non-professional costs such as travel, accommodation and search fees. B1 disbursements are recovered at cost.
- B2 - disbursements are internally provided non-professional costs such as photocopying and document storage.B2 disbursements are charged at cost except for photocopying, printing and telephone calls which are charged at a rate which is intended to recoup both variable and fixed costs.
Fee Information (GST Inclusive)
Summary
| Time Spent | $43,203.70 |
| Fees Drawn | $24,200.00 |
| Fees Written Off | -$17,309.28 |
| WIP Balance | $1,694.41 |
Time spent by Employees
| Employee | Position | Hourly rate (ex GST) |
Total Hours | Total (ex GST) |
|---|---|---|---|---|
| Crystal Wright | Principal | $600.00 | 16h 51m | $9,373.00 |
| Stephen Hundy | Principal | $600.00 | 1h 51m | $1,120.00 |
| Charles Taylor | Senior Business Analyst | $340.00 | 0h 35m | $204.00 |
| Saad Maarbani | Senior Business Analyst | $340.00 | 0h 17m | $102.00 |
| Zoe Gargett | Senior Business Analyst | $340.00 | 78h 37m | $24,967.77 |
| Betty Lin | Graduate | $255.00 | 0h 6m | $29.75 |
| Maya Stojackovic | Financial Assistant | $200.00 | 0h 39m | $130.00 |
| Totals | 99h 1m | $35,926.53 | ||
| GST | $3,592.65 | |||
| Total including GST | $39,519.18 | |||
| Avg hourly rate | $420.36 |
Time Spent by Category
| Category | Total Hours | Total (inc GST) |
|
|---|---|---|---|
| Administration | 4h 54m | $1,980.20 | |
| Assets | 8h 46m | $3,794.04 | |
| Creditors | 42h 7m | $16,013.17 | |
| Dividend | 0h 12m | $74.80 | |
| Investigations | 43h 1m | $17,656.97 | |
| Totals | 99h 1m | $39,519.18 |
Client Documents
| Date | Name |
|---|---|
| 21/03/2025 | General Advice |
| 15/06/2022 | Certificate of Resolutions |
| 15/06/2022 | Certificate of Resolutions |
| 15/06/2022 | Certificate of Resolutions |
| 13/05/2022 | Stat Report |