Descon Qld, Adcon Admin in administration as court windups loom over tax, WorkCover bills

The controversial director of a struggling national construction group has placed two key companies in administration, averting wind-up action which loomed in court for both.

The controversial director of a struggling national construction group has placed two key companies in administration, averting wind-up action which loomed in court for both.

Descon Qld – which is behind the stalled Waverley residences tower in Southport, and Adcon Admin – went into administration on April 17.

Both companies are directed by banned builder Danny Isaac, who is defending bankruptcy action brought to court by rival developer Anthony Quinn.

He has been living in Dubai and Saudi Arabia since October.

The group’s parent company, Descon Group Australia, is itself facing wind-up action, which returns to court early next month.

Court records show Descon Qld was facing wind-up by the ATO and a second wind-up action from demolition company Demex, which had 13 supporting creditors.

Danny Isaac.

Adcon Admin was facing wind-up by WorkCover Queensland and the Deputy Commissioner of Taxation.

The value of debts owed by the companies is not yet known and the Gold Coast Bulletin has contacted administrator Chris Baskerville for comment.

Questions to Mr Isaac, who was previously bankrupt under the name Sami Adib, were answered by his lawyer Clint Kanther.

Mr Kanther said the administrators had been appointed as part of a “restructure of the Descon Group”.

“The companies are part of a voluntary restructure and the financial arrangements with debtors and creditors are in the process of being resolved,” he said.

“The majority parties involved in the proceedings against Descon Group Australia have reached a resolution with the group.

“There are some matters that have been appropriately disputed by DGA and proceedings remain ongoing.

“Mr Isaac maintains that the proceedings have been improperly commenced and have been defended.”

15 Waverley St development in Southport nearing completion. Picture Glenn Hampson

Mr Isaac was banned by the QBCC in February from holding a Queensland builder licence, or from running a licensed company, until December 8, 2026.

He has previously said he would appeal the decision.

Receivers were called in to the $180m Akin luxury tower development in Brisbane after a bitter fallout between Descon, and developer Tallis Group, which has since gone into liquidation itself.

Despite some of his other companies being in liquidation, and revelations Mr Isaac was an undischarged bankrupt when he applied for his builder licences, Descon Group Australia this week remained licensed for maximum revenue of more than $240m a year.

Originally published as Descon Qld, Adcon Admin in administration as court windups loom over tax, WorkCover bills