A director of the collapsed BCL Group claims the company owes at least $4 million to unsecured creditors, many of them small subcontractors, documents filed to the Australian Securities and Investments Commission (ASIC) show.
But director Louie Hancock did not reveal how much was owed to secured creditors, including the Commonwealth Bank, meaning the extent of the company’s debts could be substantially higher.
The Wangara-based company went into liquidation/9484052″ data-component=”Link” data-uri=”coremedia://article/9484052″>liquidation last month after a review into its financial viability.
Liquidators Richard Albarran and Cameron Shaw, of Hall Chadwick, are reviewing the claims to verify their accuracy.
The documents suggest that at least 160 subcontractors are owed more than $4 million, including:
- perth-based labour and equipment hire companies Australian Civil Haulage and Flexi Staff, each owed more than of $300,000
- Bunbury-based businesses Form X and Jetline Kerbing Construction, owed $300,000 and $170,000 respectively
- Kalgoorlie-Boulder-based business Total Asphalt and Total Traffic Management, owed $146,000.
Perth’s Elizabeth Quay development was among the projects BCL Group worked on. (720 ABC Perth: Emma Wynne)
The Australian Taxation Office is owed more than $350,000, while Corrs Chambers Westgarth…