A final report on the insolvent company’s liquidation was released in October.
“The cause of the liquidation appears to be linked to a failure to account for taxation, along with a loss of income due to seasonal conditions, specifically flooding,” liquidator Lee Humphreys wrote.
The summary of claims in that report gives an estimated total claims figure of $1,689,400.08.
Of that, $237,401.53 was owed to secured creditors, $465,360.07 to preferential creditors and $986,638.48 to unsecured creditors.
The liquidator recovered $1.79 from the company bank account, which was put towards the Official Assignee’s expenses.
The liquidator’s time cost was listed as $833.75.
“Independent investigations conducted by the liquidator, including…