However, Hunt’s second liquidator report has revealed a worsened position, with creditors of all classes owed a combined $2.245 million.
Over the past six months of the company’s liquidation, Hunt has sold plant, equipment and stock at auction for a total of $97,008, although $19,473 of this was distributed for auction costs and commissions.
Hunt has investigated related party transactions and potentially voidable transactions to recoup funds and is investigating the company’s trading history and Leigh’s actions, including any potential breaches of the Companies Act 1993 by the director.
The two leases have also been exited and disclaimed.
As for distributions, staff have been paid out a preferential claim of $19,597, paid 100c in…