It’s been revealed that a building company that collapsed earlier this year had just $17.80 left in its bank account.
In July, news.com.au reported that melbourne-based bespoke building company Avra Group (Aust) Pty Ltd had entered into liquidation.
A report prepared by Philip Newman of insolvency firm PCI Partners, the appointed liquidator, showed that the company owes around $1.2 million to around 37 unsecured creditors.
Avra Group owes staff around $24,000 in unpaid entitlements while other creditors include the Deputy Commissioner of Taxation owed an unknown amount, NAB and Westpac, Bunnings, a law firm and a number of tradies.
“The company operated one bank account with the National Australia Bank which the director has advised held a credit balance of approximately $17 at the date of liquidation,” Mr Newman wrote.
“NAB has since confirmed that the company maintained one bank account which held a credit balance of $17.80.”
In all, Avra Group has total assets estimated to be worth $305,000.
Among those was a vehicle, which the company’s sole director Mark Avramoski possessed, with a realisable value of around $26,000.
Creditors have expressed concern upon discovering that Mr Avramoski has partnered with another…