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Office fit-out firm, Brisbane QLD
- Estimated Savings: $400,000
- Total Cost: Less than 10% of savings
- Case Type:ATO Debt
A Melbourne accountant referred this company (located in Brisbane) to Rebuild Now. The company sub-contracted to builders, who installed major renovations in office buildings. Another family member involved in the business (running an office furniture importing division) suffered with unexpected health complications and as a result fell behind in his BAS and ATO obligations. He subsequently received a directors' penalty notice from the ATO in conjunction with an audit notice issued by the Queensland SRO. The court appointed an aggressive liquidator. The failure of the importing business threatened the solvency of the fit-out business.
Rebuild Now insulated the two businesses and then negotiated with the liquidator for a successful outcome. The majority of the import business’ creditors were paid 100 cents in the dollar. All employees, 23 in total, were taken over by the fit-out company.