Investigations into perth-based Corporate Computers IT, which traded as Base IT Australia and fell into liquidation in March 2016, have found evidence the company may have traded while insolvent for years before its collapse.
Corporate Computers IT was liquidated last March with debts of $1.4 million to the Australian Taxation Office.
Kimberley Wallman from liquidator HLB Mann Judd released an annual report into the matter in May 2017 that found a number of questionable activities at the now-defunct reseller.
“I have formed the view that the directors traded whilst insolvent because at the time transactions were entered, there were reasonable grounds to believe the company may not have been able to pay its debts as and when they fell due.
“The company became unable to meet its taxation liabilities from 26 August 2013 and subsequently incurred debts in excess of a million dollars.”
Wallman submitted a report to ASIC on 22 July 2016 detailing the investigations, but the corporate regulator advised it did not intend to commence any further investigation into the company’s past affairs.
The liquidator also identified two unreasonable director-related transactions, one of $150,000 in FY2015 and the…
