File Details
ACN/Estate#:
168 428 957
Office Name:
Gold Coast
Trading Name
None known
Principal
James Robba
Admin Type
Creditors Vol
Manager:
James Robba
Start Date
06/11/2023
Exec Analyst
Lee Moore
Status
Dividend
Contact Person
Art Wannasri
Industry
Unknown
Appointee
Jason Bettles
I want to
File Summary
On 6 November 2023, the company's shareholders resolved that the company be wound up and Jason Bettles of this office was appointed as liquidator.A copy of our initial advice to creditors dated 7 November 2023 providing details on our appointment can be downloaded from the bottom of this webpage.
The liquidator is seeking to have various resolutions passed by creditors, which may be done without calling a physical meeting of creditors. These proposals are included in our initial advice and creditors have until the date of closure of voting being 30 November 2023 at 5pm (to either vote "yes" or "no" to the proposal, or to object to the proposal being resolved without a meeting of creditors).
We ask that creditors complete and return each voting form to our office before the due date.
If you have any information that will assist our enquiries please contact our office.
Update 3 May 2024
We now advise that voting on the proposals without a meeting has closed and resolutions dealing with the liquidator's remuneration were passed.
A copy of the outcome of the proposals is available to download from the documents section of this web page.
Update 7 March 2025:
We refer to our report to creditors dated 7 March 2025 and advise that the liquidator intends to declare a first and final dividend to priority unsecured creditors of the company (employee entitlements) in respect of outstanding wages and superannuation only. We advise that the relevant dates for the dividend and lodgment of Proofs of Debt for priority unsecured creditors who have not already lodged a Proof of Debt with this office are as follows:
Date for the lodgment of Proofs of Debt is: 28 March 2025
Expected date for payment: 17 April 2025
If an employee has already lodged a Proof of Debt, they do not need to lodge a further Proof. If an employee has not and does not lodge a Proof of Debt for employee entitlements (other than outstanding superannuation), they will not participate in this dividend and may not receive any dividend at all.
It is recommended that all creditors download a full copy of the report from the “Client Documents” section at the bottom of this page to review and consider its contents.
The liquidator is also seeking to have various resolutions passed by creditors, which may be done without calling a physical meeting of creditors. Creditors have until the date of closure of voting being 31 March 2025 at 5pm (to either vote "yes" or "no" to the proposal, or to object to the proposal being resolved without a meeting of creditors).
We ask that creditors complete and return each voting form to our office before the due date.
Update 2 April 2025
We now advise that voting on the proposals without a meeting has closed and resolutions dealing with the liquidator's remuneration were passed.
A copy of the outcome of the proposals is available to download from the documents section of this web page.
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.
Meeting of Creditors
Future Meetings
There are no future meetings for this file.
Past Meetings
A Proposal without a Meeting was called for 30 November 2023 at 05:00 pm.
A Proposal without a Meeting was called for 30 April 2024 at 05:00 pm.
A Proposal without a Meeting was called for 31 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 | 7 | |
| Number of PODs Claimed | 3 | 1 |
| Total of PODs Claimed | $1,401,066.00 | $136,985.00 |
| Total of Employee PODs Claimed | $136,985.00 | $136,985.00 |
| Total of Secured PODs Claimed | $0.00 | $0.00 |
| Total of Unsecured PODs Claimed | $1,264,081.00 | $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
| Date process commenced | 07/03/2025 |
| Date for lodgement of proofs of debt | 28/03/2025 |
| Expected date for payment | 17/04/2025 |
| Employee or Non-Priority | Employee |
| Interim or Final dividend | Final |
Past Distributions
There are no past distributions for this file.
Receipts and Payments Summary
Receipts Summary
| Account name | Total |
|---|---|
| Sale of Assets | $142,101.60 |
| Interest Earned | $8,743.70 |
| Receipt - Debtors | $223,787.36 |
| Collection of Cash Balances | $27,847.47 |
| Upfront Indemnity | $11,000.00 |
| GST Collected | $7,458.45 |
| Total receipts | $420,938.58 |
Payments Summary
| Account name | Code | Total |
|---|---|---|
| Accounting Fees | B1 | $5,420.00 |
| Agents Charges, Commissions & Stamp Duty | B1 | $360.00 |
| Legal Fees | A | $13,126.11 |
| Appointees Remuneration | $62,576.90 | |
| Printing, Stationery & Postage | B2 | $125.07 |
| Searches | B1 | $210.83 |
| GST Paid | $1,912.61 | |
| Valuation Costs | B1 | $220.00 |
| Administration Charges (Internal) | B2 | $300.00 |
| Total payments | $84,251.52 |
Assets Summary
| Cash at Bank | $336,687.06 |
| Suspense | -$127.00 |
| Total assets | $336,560.06 |
Disbursement Summary
| Category | Code | Total ($) |
|---|---|---|
| External - Non-Professional | B1 | $6,210.83 |
| External - Professional | A | $13,126.11 |
| Internal | B2 | $425.07 |
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 | $74,555.50 |
| Fees Drawn | $68,834.59 |
| Fees Written Off | $0.00 |
| WIP Balance | $5,720.96 |
Time spent by Employees
| Employee | Position | Hourly rate (ex GST) |
Total Hours | Total (ex GST) |
|---|---|---|---|---|
| James Robba | Principal | $680.00 | 24h 43m | $13,960.55 |
| Jason Bettles | Principal | $680.00 | 2h 10m | $1,484.65 |
| Lee Moore | Manager | $590.00 | 46h 3m | $25,162.35 |
| Art Wannasri | Executive Analyst | $475.00 | 46h 39m | $20,863.12 |
| Brandon Tan | Financial Assistant | $260.00 | 0h 40m | $173.33 |
| Gustavo Lambert | Financial Assistant | $260.00 | 0h 14m | $64.99 |
| Sophia Crawford | Financial Assistant | $260.00 | 0h 31m | $134.34 |
| Totals | 121h 3m | $61,843.32 | ||
| GST | $6,184.33 | |||
| Total including GST | $68,027.65 | |||
| Avg hourly rate | $503.64 |
Time Spent by Category
| Category | Total Hours | Total (inc GST) |
|
|---|---|---|---|
| Administration | 2h 46m | $1,635.01 | |
| Assets | 26h 26m | $15,973.28 | |
| Creditors | 49h 6m | $26,458.44 | |
| Dividend | 10h 46m | $5,662.41 | |
| Employees | 7h 35m | $4,443.84 | |
| Investigations | 24h 22m | $13,854.67 | |
| Totals | 121h 3m | $68,027.65 |
Client Documents
| Date | Name |
|---|---|
| 02/04/2025 | Certificate of Resolutions |
| 07/03/2025 | Dividend Advice |
| 03/05/2024 | Certificate of Resolutions |
| 05/04/2024 | General Advice |
| 05/02/2024 | Stat Report |
| 04/12/2023 | Certificate of Resolutions |
| 07/11/2023 | Initial Advice |