BREAKING: Smartcity Vocational College accountants met with liquidators six months before the college’s administrative arm, SC Admin Pty Ltd, went bust.
The report to creditors distributed to former SC Admin staff and creditors by Worrells Solvency and Forensic Accountants yesterday showed SmartCity accountants and lawyers met with Worrells on June 1 to discuss “solvency concerns and insolvency options”.
College accountants, directors and shareholders met with liquidators on June 15, again regarding “solvency and insolvency options”.
On September 5 Worrells was advised it would be contacted in future if its services were required.
SC Admin entered voluntary liquidation on December 16.
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Read the full article at: http://qt.com.au/news/smartcity-had-solvency-concerns-six-months-ago/3125132/