File Details
ACN/Estate#:
657 613 744
Office Name:
Wollongong
Trading Name
None known
Principal
Stephen Hundy
Admin Type
Creditors Vol
Manager:
Crystal Wright
Start Date
26/09/2023
Exec Analyst
Crystal Wright
Status
Active
Contact Person
Zoe Gargett
Industry
Building/Construction
Appointee
Stephen Hundy
I want to
File Summary
We advise that voting in relation to the proposals without a meeting ended at 5pm on 5 March 2025 for the Company. A resolution was approved by creditors for past remuneration of the Liquidators.We anticipate to finalise the liquidation within 1 month. Creditors will receive a final advice in due course.
Stephen Hundy
Liquidator
------------------------
We are seeking a proposal to be passed by creditors in the liquidation for further fee approval. An advice containing a notice of proposal to creditors has been issued, you should receive this shortly.
Voting on this resolution can be done using a form attached to the report. Votes must be received by 5 March 2025 at 5.00PM.
Please contact our office if you have any queries.
Stephen Hundy
Liquidator
---------------------------
We have now issued our Statutory Report to Creditors for Pro Steelfix Pty Limited. The report provides creditors with an update on the progress of the liquidation and the likelihood of a dividend being paid in the liquidation.
You should receive the report shortly. Please contact our office if you do not receive this report so that we can check your address details.
Stephen Hundy
Liquidator
---------------------------
We advise that voting in relation to the proposals without a meeting ended at 5pm on 27 October 2023 for Pro Steelfix Pty Ltd. Resolutions were approved by creditors as follows:
• Past remuneration of the Liquidators
• Future remuneration of the Liquidators
• Annual administration charge for internal disbursements of the Liquidators.
• Approval of books and records destruction 6 months after the deregistration of the Company.
Work will now continue in the following areas:
• Asset realisations
• Detailed insolvency investigation
• Investigation into offences
• Investigation into potential recoveries
To assist us with our investigations please e-mail us on crystal.wright@worrells.net.au regarding any matters you believe should be investigated. We will report on these matters in later advices to creditors.
Stephen Hundy
Liquidator
------------------------
We are seeking proposals to be passed by creditors in the liquidation of Pro Steelfix Pty Ltd for fee approval, internal disbursements and early destruction of books and records. An initial advice containing notice of the proposals and instructions on how to vote has been issued, you should receive this shortly.
Voting on these resolutions are done using a form attached to the report. Votes must be received by 27 October 2023 at 5.00PM for the following resolutions:
1. Liquidators’ remuneration from 26 September 2023 to 4 October 2023 in the amount of $5,439 exclusive of GST.
2. Liquidators’ remuneration for 5 October 2023 to finalisation up to the capped amount of $24,561 exclusive of GST.
3. Annual administration charge for internal disbursement of the Liquidators.
4. Approval for the books and records of the Company to be destroyed 6 months after the deregistration of the Company.
Please contact our office if you did not receive our initial report and we will update your contact information accordingly.
Stephen Hundy
Liquidator
-----------------------------
Daniel Cvitanovic and I were appointed Liquidators of Pro Steelfix Pty Limited (“the Company”) on 26 September 2023. A formal written advice will be issued shortly.
We would appreciate if you could notify us 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 we can remove you from our creditors list; or
• would like a physical copy of the advice to creditors mailed to you.
We are 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
• Investigation into potential void transactions
A more detailed report will be issued when our initial investigations have been completed and we have further guidance on the likelihood of a dividend. This will be sent within three months.
Stephen Hundy
Liquidator
---------------------------
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 |
|---|---|---|---|---|---|
| 4 | $249,110.00 | 4 | $0.00 | $214,110.00 | $35,000.00 |
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 27 October 2023 at 05:00 pm.
A Proposal without a Meeting was called for 05 March 2025 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 | 3 | |
| Number of PODs Claimed | 1 | 0 |
| Total of PODs Claimed | $4,400.00 | $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 | $4,400.00 | $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 |
|---|---|
| Interest Earned | $266.41 |
| Receipt - Debtors | $35,000.00 |
| Collection of Cash Balances | $5,029.85 |
| GST Collected | $3,383.00 |
| Total receipts | $43,679.26 |
Payments Summary
| Account name | Code | Total |
|---|---|---|
| Legal Fees | A | $4,868.08 |
| Appointees Remuneration | $37,279.87 | |
| Searches | B1 | $146.50 |
| GST Paid | $566.63 | |
| Administration Charges (Internal) | B2 | $818.18 |
| Total payments | $43,679.26 |
Assets Summary
| Cash at Bank | $4.32 |
| Suspense | -$5,000.00 |
| Total assets | -$4,995.68 |
Disbursement Summary
| Category | Code | Total ($) |
|---|---|---|
| External - Non-Professional | B1 | $146.50 |
| External - Professional | A | $4,868.08 |
| Internal | B2 | $818.18 |
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 | $46,831.80 |
| Fees Drawn | $41,007.86 |
| Fees Written Off | -$5,342.92 |
| WIP Balance | $481.06 |
Time spent by Employees
| Employee | Position | Hourly rate (ex GST) |
Total Hours | Total (ex GST) |
|---|---|---|---|---|
| Crystal Wright | Principal | $630.00 | 15h 15m | $9,618.00 |
| Stephen Hundy | Principal | $630.00 | 2h 49m | $1,459.50 |
| Saad Maarbani | Senior Business Analyst | $360.00 | 0h 14m | $90.00 |
| Zoe Gargett | Senior Business Analyst | $360.00 | 76h 2m | $27,372.00 |
| Maya Stojackovic | Financial Assistant | $210.00 | 0h 49m | $175.00 |
| Totals | 95h 11m | $38,714.50 | ||
| GST | $3,871.45 | |||
| Total including GST | $42,585.95 | |||
| Avg hourly rate | $481.80 |
Time Spent by Category
| Category | Total Hours | Total (inc GST) |
|
|---|---|---|---|
| Administration | 4h 38m | $2,124.10 | |
| Assets | 22h 34m | $10,827.30 | |
| Creditors | 42h 10m | $18,167.05 | |
| Investigations | 25h 20m | $11,467.50 | |
| Miscellaneous | 0h 29m | $0.00 | |
| Totals | 95h 11m | $42,585.95 |
Client Documents
| Date | Name |
|---|---|
| 06/03/2025 | Certificate of Resolutions |
| 11/02/2025 | General Advice |
| 22/12/2023 | Stat Report |
| 27/10/2023 | Certificate of Resolutions |
| 27/10/2023 | Certificate of Resolutions |
| 27/10/2023 | Certificate of Resolutions |
| 27/10/2023 | Certificate of Resolutions |
| 05/10/2023 | Initial Advice |