Dozens of businesses and families are out of pocket after the collapse of G.J Gardner Homes at North Ipswich. Now the man responsible for mopping up the mess reveals if they’ll get anything back.
Hayden Johnson, The Courier-Mail Subscriber only|October 9, 2019 2:09pm
CREDITORS are unlikely to receive a cent of the $1.9 million they are owed following the collapse of G.J Gardner Homes at North Ipswich earlier this year.
A report into the operations of TP Enterprises Aotearoa Pty Ltd, trading as GJ Gardner Homes Ipswich, was formed by Worrells Solvency and Forensic Accountants partner Adam Ward.
His investigations revealed 104 unsecured creditors were owed $1.960 million.
Summit Roofing is the largest unsecured creditor, out of pocket $151,226.
Three more secured creditors are owed $376,909 while four staff are short $26,928 in wages and superannuation.
The company’s assets total just $1359.27, including $903.13 held in a Commonwealth Bank account.
“It is unlikely that there would be a dividend to priority or unsecured creditors,” Mr Ward wrote.