Coombs Barei Constructions’ former directors’ email accounts subject of forensic audit by auditor Duncan Powell

ADMINISTRATORS of a failed Adelaide building company are forensically examining the email accounts of its former directors and senior management.

Coombs Barei Constructions co-shareholder Bruno Marveggio was identified as a potential shadow director of the company before its collapse.

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ADMINISTRATORS of failed building company Coombs Barei Constructions are forensically examining the email accounts of its former directors and senior management amid ongoing investigations into the collapse of the Hindmarsh firm.

They have also revealed that they will begin action to recover up to $800,000 in so-called preferential payments made to 26 creditors before Coombs Barei collapsed in October last year with debts now put at almost $7 million.

Under the Corporations Act suppliers and contractors who are paid within six months of a company’s liquidation can be made to repay the funds with the proceeds shared among creditors.

The $800,000 is $300,000 higher than previous estimates by administrator DuncanPowell who told creditors that the claims for repayment were “strong”.

Coombs Barei Constructions, whose directors and shareholders are Adelaide United shareholders George Charalabidis, Tony Basile and Bruno Marveggio, was placed in voluntary administration in October in the wake of mounting speculation about its capacity to meet debts.

Creditors voted five weeks later to liquidate the company paving the way for a thorough investigation into the director’s personal affairs and any potential offences of insolvent trading.

DuncanPowell’s Peter Lanthois said, in a report to creditors issued this month, that his company was reviewing the company’s books and records, including a forensic examination of the email accounts of the directors and senior management.

“Email correspondence often reveals valuable information and evidence to support claims and actions against directors and creditors for insolvent trading or voidable transactions such as unfair preferences,” he said.

“Moreover, email correspondence provides a strong foundation from which court examination of directors and related parties can be conducted should this be required.

“Upon completion of our review of the records and email ... we will meet with our legal advisors to determine which parties we may seek further oral and/or documented evidence.”

He said investigations were still at a preliminary stage and that DuncanPowell were not in a position to provide “definitive conclusions” about any “alleged inappropriate conduct”.

But The Advertiser has previously reported that DuncanPowell and South Australia’s Small Business Commissioner John Chapman separately referred the conduct of Mr Basile and Mr Charalabidis to ASIC for investigation.

DuncanPowell have alleged the pair breached their duties by distributing a Renewal SA payment of $142,000 among themselves, staff and a related company at the expense of sub contractors just days before placing the company into administration.

Mr Chapman had asked ASIC to investigate the duo for potential insolvent trading.

DuncanPowell, in an earlier report to creditors, had also identified that Mr Marveggio had acted as a potential shadow director for Coombs Barei.