Building co. in liquidation

Director goes incommunicado after legal action

THE DIRECTOR of a Toowoomba building company that went into liquidation after legal action from Bunnings and WorkCover Queensland has gone incommunicado, according to the liquidator.

ATSBuild Pty Ltd, run by Adrian Thomas Smith, was wound up on June 20 after an application from WorkCover Queensland over the company’s outstanding WorkCover premiums, penalties and charges totalling $5289.

Bunnings Group joined the application after it was filed.

In his statutory report to creditors, liquidator Nick Combis of Vincents Chartered Accountants said that “despite (his) efforts”, he had so far had no contact with Mr Smith, nor had Mr Smith provided him with a report on company activities and property.

“On July 12, 2019, I reported the director’s non-compliance to ASIC to seek ASIC’s assistance to obtain the RoCAP and the company’s books and records. ASIC are currently considering whether to commence prosecution against the director for non-compliance,” he said.

Mr Combis said that after his appointment, he had contacted the company’s accountant, who provided copies of the company’s financial statements for the years ending June 2015, 2016, 2017, and 2018.

But he said he was yet to receive any financial information or records relating to the company’s activities after June 30, 2018.

Based on the information available to him at June 20, 2019, Mr Combis said the company owed an estimated $86,000 to unsecured creditors, and had zero assets.

Mr Combis’ report also showed that for the year ending June 30, 2018, the company made a loss of $163,785.

The company had been the defendant in at least three court proceedings during 2018/ 19, which resulted in default judgements being awarded against it in the order of a combined $60,000.

Mr Combis also said his investigations confirmed the ATSBuild previously held a Low Rise builder licence with the Queensland Building and Construction Commission from July 15, 2016, until June 25, 2019, when the QBCC suspended the company’s licence for failing to comply with an audit.

“As a result of the liquidation, the company became an excluded company and the QBCC cancelled the company’s builder licence on July 25, 2019,” he said.

“The director also previously held a Low Rise nominee supervisor licence with the QBCC from July 1, 2016 until July 25, 2019 when the QBCC cancelled the director’s licence as a permanently excluded person.” Mr Combis said his investigations into the company were continuing.