Gold Coast businessman Adam Blackwell is allegedly under investigation by a liquidator for allegedly syphoning funds from collapsed panel beating group Action Smart, according to a recent report in News Corporation newspapers.
The Group collapsed with creditors believed to be owed over $22million, while it is alleged that the liquidator is investigating Blackwell for more than $20million in payments made to two senior management members of the Group.
The report also alleges that the Group operated while insolvent during 2023.
Paint & Panel Magazine reported that the Group and its subsidiaries, Caravan Fix, End Repair Solutions, BHG Automotive Group, Action Smart Transport and AD Glass, were placed into voluntary liquidation in April….