File Details
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File Summary
Con Kokkinos and Matthew Jess were appointed liquidator of the Company on 19 February 2025.For any enquiries, please contact Alex Bryant via email on alex.bryant@worrells.net.au or 03 9613 5503.
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 28 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 | 184 | |
| Number of PODs Claimed | 24 | 0 |
| Total of PODs Claimed | $5,163,353.00 | $0.00 |
| Total of Employee PODs Claimed | $191,729.00 | $0.00 |
| Total of Secured PODs Claimed | $343,067.00 | $0.00 |
| Total of Unsecured PODs Claimed | $4,628,557.00 | $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 | $318.90 |
| Collection of Cash Balances | $66,364.19 |
| Fees from FEG | $30,334.70 |
| Total receipts | $97,017.79 |
Payments Summary
| Account name | Code | Total |
|---|---|---|
| Searches | B1 | $109.60 |
| Secured Creditors Payments | B1 | $795.01 |
| Total payments | $904.61 |
Assets Summary
| Cash at Bank | $97,703.20 |
| Suspense | -$795.01 |
| Total assets | $96,908.19 |
Disbursement Summary
| Category | Code | Total ($) |
|---|---|---|
| External - Non-Professional | B1 | $109.60 |
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 | $94,952.70 |
| Fees Drawn | $0.00 |
| Fees Written Off | $0.00 |
| WIP Balance | $94,952.67 |
Time spent by Employees
| Employee | Position | Hourly rate (ex GST) |
Total Hours | Total (ex GST) |
|---|---|---|---|---|
| Con Kokkinos | Principal | $745.00 | 1h 12m | $906.42 |
| Matthew Jess | Principal | $745.00 | 8h 48m | $6,556.03 |
| Francis Osei-Ntim | Senior Manager | $680.00 | 0h 4m | $56.66 |
| Greg Thiveos | Senior Manager | $680.00 | 25h 26m | $17,029.96 |
| Ajmal Gooman | Executive Analyst | $540.00 | 26h 27m | $14,283.00 |
| Matthew Watkins | Executive Analyst | $540.00 | 1h 19m | $720.00 |
| Alex Bryant | Senior Business Analyst | $475.00 | 53h 14m | $25,293.85 |
| Lakshay Pahuja | Senior Business Analyst | $475.00 | 0h 22m | $182.07 |
| Natasha Faziera | Financial Assistant | $320.00 | 42h 30m | $13,445.28 |
| Totals | 159h 27m | $78,473.28 | ||
| GST | $7,847.33 | |||
| Total including GST | $86,320.61 | |||
| Avg hourly rate | $635.56 |
Time Spent by Category
| Category | Total Hours | Total (inc GST) |
|
|---|---|---|---|
| Administration | 1h 50m | $673.47 | |
| Assets | 41h 43m | $25,196.14 | |
| Creditors | 43h 55m | $21,927.74 | |
| Dividend | 9h 7m | $3,983.76 | |
| Employees | 29h 6m | $17,175.95 | |
| Investigations | 33h 45m | $17,363.55 | |
| Totals | 159h 27m | $86,320.61 |
Client Documents
| Date | Name |
|---|---|
| 21/03/2025 | Initial Advice |
| 25/02/2025 | Initial Advice |