The private developer, founder by Joe Russo, is likely to go into liquidation next week after receivers appointed by its largest creditor hand over the remains to other creditors.
in Preston are unaffected by the receivership.
“It’s a significant debt that was there,” Mr Howell said. “The director was aware of and knew it had to be paid. And the ATO would start to put significant pressure on the company to get that paid.”Investigations to date show the company had 23 employees with claims so far worth nearly $21,000, although that represented the claim of just one employee, Mr Howell said.There are 43 unsecured creditors with claims together worth about $15.6 million.
Mr Howell said he had written to the receivers, as the car fell under the security agreement that entitled them to recover all debts owed to the company.
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