Company reveals hefty debt

A DOCUMENT filed with the corporate regulator by the owner of a Tasmanian company ordered to liquidate itself by a Victorian court estimates its liabilities at nearly $200,000.

UDW Pty Ltd, which operated businesses Unique Vanities and Unique Doors and Windows from a workshop at Legana Park in the West Tamar, was ordered into liquidation by the Supreme Court of Victoria on July 6.

Australian Glass Group (Holdings) Pty Ltd, a subsidiary of New Zealand firm Metro Performance Glass Ltd, launched the winding-up application on June 2.

A document filed with corporate regulator ASIC by UDW owner and director Damian John Whybrow, of West Launceston, has now shed light on the company’s financial position.

According to Mr Whybrow’s report on company activities and property (ROCAP), he estimated UDW’s total debt as at June 31 to be $185,225.

Major liabilities include $56,000 owed on a 2021 Nissan Navara Pro-4X, nearly $20,000 owed to Queensland manufacturer Modinex Group, $8785 owed to Tasmanian timber manufacturer McKay Timber, $25,960 owed to Tas City Building, and $11,610 owed to Australian Glass Group.

Mr Whybrow’s ROCAP also states he and his partner Emma Tubb, who co-owns the business, are owed unpaid wages from the company.

He further states he is owed a small amount of money from two customers for unpaid services.

Mr Whybrow estimated his company’s assets to be about $75,000, mostly consisting of trade equipment.

Liquidator GS Andrews Advisory is continuing to prepare its full report into the company’s activities and reasons for its insolvency. The report will be publicly released.

Multiple attempts were made by the Mercury to contact Mr Whybrow.