The boss of a failed plumbing firm that owes $12 million to creditors has copped criticism after appearing to splash his cash on an overseas holiday.
In August, news.com.au revealed that Victorian-based C & S Plumbing Pty Ltd had gone into liquidation with all 70 employees losing their jobs on the spot. More than 100 creditors are owed $12.2 million.
Documents the liquidator submitted to ASIC showed that that in the four months before C & S Plumbings demise, the sole director, Shane Arnold, paid himself $101,000.
He also sold the firms assets to another company a family member was involved with, while getting the existing plumbing business to complete work for this other company.
Although Mr Arnold has indicated to the liquidator that he i…
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