Boss Adventure, Hitch & Go in liquidation after feud between Remo Digiannantonio and Adrian Raso
A national caravan manufacturer is in liquidation with untold debts after the ‘irreversible destruction’ of the business relationship of two warring founders and a court stoush involving the twice-bankrupt former financial adviser of Alan Bond.
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A national caravan manufacturer is in liquidation with untold debts after the “irreversible destruction” of the business relationship of two founders and a court stoush involving the twice-bankrupt former financial adviser of Alan Bond.
Two related companies, Boss Adventure and Hitch & Go, were placed into court-ordered liquidation, with documents lodged in the case revealing the feud escalated when colourful Sydneysider James “Big Jim” Byrnes entered the scene.
Boss sold Chinese-made off-road caravans and pop-tops, priced from around $50,000 to over $80,000 each, from its head office at Molendinar on the Gold Coast and a showroom at Epping in Melbourne.
Hitch & Go held trademarks and other intellectual property.
Both companies were directed by Melbourne-born Gold Coast men Remo Digiannantonio, 42, and Adrian Raso, 43.
Court documents detail how the relationship between the pair blew up after Mr Digiannantonio, who also runs construction company Chevrock Homes, did some building work for Mr Raso that ended in a dispute.
The dispute spilt over into their business operations to the point there was “deadlock, mutual distrust and a complete breakdown in communication”, the documents said.
It boiled over when Mr Digiannantonio brought in self-professed “entrepreneur, philanthropist, insolvency specialist, bankruptcy guru, venture capitalist and classic car restorer” Mr Byrnes as an adviser.
Mr Byrnes, former financial adviser to the late notorious businessman Alan Bond, is described in the documents as a “a non-lawyer with a reputation for intimidation and criminal associations”.
“Since Mr Byrne has been retained, relations between the two participants have only got worse,” a submission from Mr Raso’s company said.
“There remains a deadlock, mutual distrust and no real prospect that the companies will be able to function in their current configuration.”
The wind-up action was launched by Mr Raso’s company AMKLR Properties, which is a joint shareholder in both collapsed companies with Mr Digiannantonio’s Chevrock.
Liquidator Jason Bettles of Worrells Insolvency said the business would continue to trade in the short-term.
“We are unsure at this stage how many creditors there are in number and how much is owed, however we understand that the Chinese manufacturer is the largest creditor of Boss Adventure and their debt is outstanding,” he said.
“The liquidator is continuing to trade the business as normal while we assess its future viability and are keen to talk to any party who is interested in purchasing a successful retailer of caravans designed to meet the Australian landscape.”
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Originally published as Boss Adventure, Hitch & Go in liquidation after feud between Remo Digiannantonio and Adrian Raso
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