Q1 Homes director bankrupt
PUTTING NEW LIFE INTO ATTRACTION THE man behind Gold Coast builder Queensland One Homes is bankrupt and his wife will be forced to sell their assets to repay creditors of the collapsed company.
Creditors of Queensland One, which went into liquidation in July owing almost $6 million, have been given details of a strictly confidential deed which will mean a significant sum repaid to the company by Paul and Amber Callender.
Mr Callender is sole director of the failed company, now controlled by liquidator Michael Caspaney, while his wife operates related firm Empire Constructions Pty Ltd, a company which the liquidator claimed may have engaged in illegal phoenix activities.
Public minutes of the creditors meeting held on Tuesday reveal Ms Callender has signed a deed of settlement, which also binds other companies she directs, including Empire Constructions.
Settlements to companies in liquidation can be used by controlling liquidators to pursue more funds on behalf of creditors.
A supreme court judge froze assets worth $7.1 million owned by the couple, who were quizzed over company records that were destroyed when computers were left in the back of a ute and damaged by water.
Between them the Callenders own seven properties and investigations are continuing into what other assets they own.
One of Ms Callender’s companies, odyssey Heights Pty Ltd, owns three properties previously owned by Mr Callender. Odyssey Heights was created three weeks after the collapse of Queensland One Homes.
The Queensland One collapse left more than 100 creditors, including the Australian Taxation Office and small businesses, and debts of almost $6 million in its wake, and a trail of customers with defective homes. Mr Caspaney told the court in an affidavit he believed Queensland One Homes had been operating insolvent as early as March 31, 2016.
The State Government gave an election eve pledge to fund public examinations of Queensland One Homes and Cullen Group, which collapsed in 2016. The examinations will give liquidators powers to subpoena company directors and bring them to court.