File Details
ACN/Estate#:
663 181 324
Office Name:
Perth
Trading Name
None known
Principal
Mervyn Kitay
Admin Type
Creditors Vol
Manager:
Kylie Kissell
Start Date
23/06/2023
Exec Analyst
Miriam Schmidt
Status
Priority
Contact Person
Simone Steele
Industry
Building/Construction
Appointee
Mervyn Kitay
I want to
File Summary
I was appointed Liquidator of Racon Pty Ltd on 23 June 2023. A formal written advice will be issued shortly.I would appreciate if you could notify me whether you:
• are owed any money by the Company through lodging a proof of debt;
• have any other interest in the Company’s affairs;
• are aware of any matters that should be investigated by us;
• have no interest in the Company’s affairs or amounts owing to you so that I can remove you from the creditors list; or
• would like a physical copy of the advice to creditors mailed to you.
I am currently working on:
• Recovery of the records of the Company;
• Realisation of any physical assets;
• Collection of amounts due to the Company;
• Investigation into offences; and
• Investigation into potential void transactions.
A more detailed report will be issued when my initial investigations have been completed and I have further guidance on the likelihood of a dividend. This will be sent within three months.
Mervyn Kitay
Liquidator
---------------------------
Full details of the file and previous advices are located in the File Information area of our website at www.worrells.net.au. The password for this file on our website is: wp33464.
You can also lodge proofs of debt and notify us other information via this page.
General information can be obtained on the Fact Sheets located on our website.
Name of Company: Racon Pty Ltd
A.C.N. 663 181 324
Our File Number: 33464
Date of Appointment: 23 June 2023
Office handling file: Perth
Appointees: Mervyn Kitay
Supervisor on File: Miriam Schmidt
PH (08) 9318 4905
EM miriam.schmidt@worrells.net.au
FX 08 9318 4996
Worrells charges fees on a time basis, using our Worrells’ Hourly Rates. Full details of time charged to each file are set out on our File Information pages.
The Corporations Act 2001 (Cth) allows us to email reports and notices to creditors where we have an email address.
Your Questions answered
Reasons for Insolvency
We curently have no reasons for the administration
Collections Summary
Debtors Collection
| Number of Debtors | Total Amount of Ledger | Number of Debtors With Outstanding Balances | Amount Collected | Amount Written Off | Amount Outstanding |
|---|---|---|---|---|---|
| 1 | $60,921.59 | 1 | $0.00 | $0.00 | $0.00 |
Scheduled Collections
There are no scheduled agreements in place for this file.
Meeting of Creditors
Future Meetings
There are no future meetings for this file.
Past Meetings
A Proposal without a Meeting was called for 21 July 2023 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 | 11 | |
| Number of PODs Claimed | 6 | 6 |
| Total of PODs Claimed | $117,503.00 | $117,503.00 |
| Total of Employee PODs Claimed | $10,709.00 | $10,709.00 |
| Total of Secured PODs Claimed | $0.00 | $0.00 |
| Total of Unsecured PODs Claimed | $106,794.00 | $106,794.00 |
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
| Date process commenced | 23/08/2024 |
| Date for lodgement of proofs of debt | 13/09/2024 |
| Expected date for payment | 23/10/2024 |
| Employee or Non-Priority | Employee |
| Interim or Final dividend | Final |
| Date process commenced | 11/12/2024 |
| Date for lodgement of proofs of debt | 06/12/2024 |
| Expected date for payment | 13/12/2024 |
| Employee or Non-Priority | Non-priority |
| Interim or Final dividend | Interim |
Past Distributions
| Creditor Type | Dividend Type | Date Paid | Amount | Rate |
|---|---|---|---|---|
| Employee | Final | 04/10/2024 | $3,500.00 | 100.0% |
Receipts and Payments Summary
Receipts Summary
| Account name | Total |
|---|---|
| Sale of Assets | $20,454.55 |
| Interest Earned | $5,631.54 |
| Receipt - Debtors | $55,383.26 |
| Collection of Cash Balances | $47,507.57 |
| Refunds and Sundry Receipts | $2,771.50 |
| GST Collected | $8,212.78 |
| Total receipts | $139,961.20 |
Payments Summary
| Account name | Code | Total |
|---|---|---|
| Accounting Fees | B1 | $1,854.55 |
| Dividends - General | $101,154.65 | |
| Freight & Cartage | B1 | $29.03 |
| Appointees Remuneration | $27,499.99 | |
| Printing, Stationery & Postage | B2 | $459.06 |
| Searches | B1 | $76.81 |
| GST Paid | $5,747.96 | |
| Administration Charges (Internal) | B2 | $900.00 |
| PAYG (Trade On) | B1 | $2,034.72 |
| Total payments | $139,756.77 |
Assets Summary
| Cash at Bank | $204.43 |
| Suspense | -$185.00 |
| Total assets | $19.43 |
Disbursement Summary
| Category | Code | Total ($) |
|---|---|---|
| External - Non-Professional | B1 | $3,995.11 |
| Internal | B2 | $1,359.06 |
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 | $38,241.30 |
| Fees Drawn | $30,249.99 |
| Fees Written Off | -$7,991.34 |
| WIP Balance | $0.00 |
Time spent by Employees
| Employee | Position | Hourly rate (ex GST) |
Total Hours | Total (ex GST) |
|---|---|---|---|---|
| Mervyn Kitay | Principal | $600.00 | 3h 37m | $2,180.00 |
| Kylie Kissell | Associate Principal | $570.00 | 7h 57m | $4,359.00 |
| Miriam Schmidt | Senior Manager | $540.00 | 32h 21m | $14,886.40 |
| Philipp Stark | Senior Manager | $540.00 | 2h 33m | $1,386.00 |
| Joe Scafidi | Manager | $520.00 | 0h 3m | $26.00 |
| Milica Djuric | Assistant Manager | $460.00 | 2h 2m | $943.03 |
| Hamish McNeven | Executive Analyst | $415.00 | 0h 25m | $172.92 |
| Kitty Evas | Senior Business Analyst | $360.00 | 7h 13m | $2,598.00 |
| Naomi Cochrane | Senior Business Analyst | $360.00 | 1h 41m | $612.00 |
| Simone Steele | Business Analyst | $295.00 | 15h 1m | $4,430.05 |
| Natelle Parris | Support | $110.00 | 0h 5m | $11.00 |
| Totals | 73h 3m | $31,604.40 | ||
| GST | $3,160.44 | |||
| Total including GST | $34,764.84 | |||
| Avg hourly rate | $477.00 |
Time Spent by Category
| Category | Total Hours | Total (inc GST) |
|
|---|---|---|---|
| Administration | 9h 51m | $4,694.45 | |
| Assets | 10h 1m | $5,172.92 | |
| Creditors | 30h 14m | $13,832.69 | |
| Dividend | 5h 44m | $2,669.80 | |
| Employees | 6h 44m | $3,163.24 | |
| Investigations | 10h 26m | $5,231.74 | |
| Totals | 73h 3m | $34,764.84 |
Client Documents
| Date | Name |
|---|---|
| 14/11/2024 | Dividend Advice |
| 04/10/2024 | Dividend analysis report |
| 23/08/2024 | Dividend Advice |
| 22/09/2023 | Stat Report |
| 29/06/2023 | Initial Advice |