But the liquidators said further investigation would be required to see whether an insolvent trading claim existed and they had insufficient funding to proceed further. Regardless, the cost of running an insolvent trading case would exceed the actual claim made by the ATO as the sole creditor, the liquidator report said.
The report noted, however, Ms Grubisa owns property and has shareholdings in various companies.
DG Institute was contacted for comment.
The tax office said: The ATO cannot comment on the tax affairs of any individual or entity due to our obligations of confidentiality under the law.
Trading while insolvent, meaning continuing to operate while unable to pay debts when they are due, can lead to penalties or criminal charg…
Read the full article at: https://www.afr.com/companies/financial-services/asic-banned-spruiker-may-have-traded-while-insolvent-liquidator-20221220-p5c7nh