BLACKROCK BLUE PTY LTD

 

File Details

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File Summary

Appointment
Michael Beck and I were appointed Liquidators of Blackrock Blue Pty Ltd and Receivers and Managers of The Efishinsea Unit Trust on 4 April 2022. A salient update on key items of the appointment are detailed below .

Assets

I have now realised all assets. Please refer to the receipts and payment section below, for breakdown of these recoveries.

Liabilities

Unsecured Creditors
To date, I have received proof of debt claims of $692,913.00.

I have completed the adjudication of these proof of debt claims and note that all except MB Civil & Construction Pty Ltd was admitted. MB Civil & Construction have since filed an application in court to dispute the rejection notice. This matter is set to be heard in late March 2023. As the outcome of this will have a material impact on the return to creditors, I will revert back to creditors after the hearing.

Dividend
Sufficient monies have been recovered to declare a dividend to creditors. Upon settling the claim made by MB Civil & Construction, I will revert back to creditors regarding the payment of this dividend.

Chris Cook
Liquidator

Last updated 23 February 2023.

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Reasons for Insolvency

We curently have no reasons for the administration

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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.

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Meeting of Creditors

Future Meetings

There are no future meetings for this file.

Past Meetings

A Proposal without a Meeting was called for 26 May 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.

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Creditor Information

Lodge a Proof of Debt

	Received	Admitted
Number of Creditors Recorded	8
Number of PODs Claimed	5	5
Total of PODs Claimed	$692,913.00	$692,913.00
Total of Employee PODs Claimed	$0.00	$0.00
Total of Secured PODs Claimed	$0.00	$0.00
Total of Unsecured PODs Claimed	$692,913.00	$692,913.00

Note to creditors whose debts are guaranteed by other parties

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.

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Distribution Summary

Future Distributions

Date process commenced	13/07/2023
Date for lodgement of proofs of debt	17/08/2023
Expected date for payment	24/08/2023
Employee or Non-Priority	Non-priority
Interim or Final dividend	Final

Past Distributions

Creditor Type	Dividend Type	Date Paid	Amount	Rate
Non-priority	Final	01/08/2024	$314,887.61	59.0%
Non-priority	Final	06/03/2025	$903.85	0.0%

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Receipts and Payments Summary

Receipts Summary

Account name	Total
Sale of Assets	$85,863.64
Interest Earned	$26,845.77
Collection of Cash Balances	$381,962.85
Refunds and Sundry Receipts	$30,115.36
GST Collected	$16,965.67
Total receipts	$541,753.29

Payments Summary

Account name	Code	Total
Accounting Fees	B1	$4,918.50
Agents Charges, Commissions & Stamp Duty	B1	$10,219.41
Dividends - General		$315,791.46
Freight & Cartage	B1	$800.00
Insurance	B1	$494.70
Legal Fees	A	$70,121.31
License Fees & Permits	B1	$1,519.94
Appointees Remuneration		$65,500.00
Printing, Stationery & Postage	B2	$39.50
Searches	B1	$144.87
Efishinsea Trust Receivership Remuneration	B2	$58,925.67
GST Paid		$11,299.24
Administration Charges (Internal)	B2	$1,978.18
Total payments		$541,752.78

Assets Summary

Cash at Bank	$0.51
Suspense	$59.99
Total assets	$60.50

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Disbursement Summary

Category	Code	Total ($)
External - Non-Professional	B1	$18,097.42
External - Professional	A	$70,121.31
Internal	B2	$60,943.35

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.

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Fee Information (GST Inclusive)

Summary

Time Spent	$74,470.60
Fees Drawn	$72,050.00
Fees Written Off	-$2,176.76
WIP Balance	$243.80

Time spent by Employees

Employee	Position	Hourly rate (ex GST)	Total Hours	Total (ex GST)
Chris Cook	Principal	$570.00	11h 12m	$6,393.50
Michael Beck	Principal	$570.00	1h 20m	$760.00
Broghan Phillips	Senior Manager	$505.00	7h 26m	$3,664.04
Hanzel Hizola	Senior Manager	$505.00	16h 5m	$8,130.55
Bronte Shiels	Assistant Manager	$410.00	74h 47m	$27,522.42
Nelson Chung	Assistant Manager	$365.00	0h 4m	$24.34
Kelly McDonald	Senior Business Analyst	$305.00	9h 25m	$2,242.33
George Thompson	Business Analyst	$270.00	30h 53m	$7,274.13
Chris Murphy	Business Analyst	$235.00	0h 12m	$47.00
Diane Jahnke	Graduate	$235.00	23h 6m	$4,636.76
Meg Whitaker	Graduate	$235.00	1h 25m	$336.85
Edward Gromov	Financial Assistant	$170.00	3h 34m	$524.18
Totals			179h 33m	$61,556.08
GST				$6,155.61
Total including GST				$67,711.69
Avg hourly rate				$401.04

Time Spent by Category

Category	Total Hours	Total (inc GST)
Administration	31h 21m	$11,796.35
Assets	2h 18m	$668.50
Creditors	68h 26m	$25,676.97
Dividend	3h 37m	$1,671.09
Investigations	72h 42m	$27,898.78
Miscellaneous	1h 8m	$0.00
Totals	179h 33m	$67,711.69

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Client Documents

Date	Name
06/03/2025	Dividend analysis report
24/01/2025	Dividend Advice
01/08/2024	Dividend analysis report
19/06/2024	Dividend Advice
31/07/2023	Advice Calling for Proofs
23/12/2022	General Advice
27/06/2022	Stat Report
04/05/2022	Initial Advice

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