Liquidator’s report shows Stunning Pools owes more than $1m to customers, other businesses

A liquidator's report has exposed the staggering debt left by a failed Brisbane pool builder, after its former director launched two new companies.

Stunning Pools, formerly directed by Phil Karabitsios, is in liquidation.

It’s been revealed a collapsed Brisbane pool builder owes more than $1.04m, with some customers owed up to $60,000 each and a six-figure debt owed to the tax office.

Holland Park company Stunning Pools went into liquidation on October 13, with the director saying “I wouldn’t be shocked if I go bankrupt over this.”

Liquidator Nikhil Khatri of Worrells wrote to customers last month, telling them the company would be “unable to complete any outstanding works”.

He said the company had 40 active contracts and urged customers who had paid for work with a credit card to seek a refund from their bank.

A new report from Mr Khatri listed 85 unsecured creditors, including tradies, lenders, customers, and the ATO, which is owed $130,000 in unpaid tax and staff superannuation.

Some customers are owed up to $60,000 each, while subbies and suppliers are owed hundreds of thousands of dollars.

The company had 40 live contracts when it was liquidated.

IDig Earthworks is the single biggest known creditor, according to the liquidator’s report, with that company owed $139,233.

Other business likely to lose their money in the collapse include ScotPac Business Finance, owed $99,698; Europe Imports, owed $50,479; Square, owed $40,000; Plungie, owed $31,605; Fluidra Group Australia, owed $30,706; Reece Australia, owed $27,284; and Shift Finance, which is owed $21,000.

Documents lodged with ASIC reveal Stunning Pools’ accountant sought to liquidate the company “quickly” as director Alan Jolliffe, 49, had received a director penalty notice, which could have made him personally liable for the ATO debt.

Stunning Pools was registered by Phillip Karabitsios, 51, in June 2023.

Phillip Karabitsios, former director of Stunning Pools.

File photo of Alan Jolliffe.

Mr Jolliffe became a director later that year and was sole director when the company went into liquidation, with Mr Karabitsios resigning in August.

The sole shareholder is a company directed by Brisbane psychologist Joanne Karabitsios, 44, wife of Phillip, who provided $15,000 towards the liquidation.

Despite the collapse of his former company, Mr Karabitsios had launched two new pool businesses, Scenic Rim Custom Pools and Pegasus Pools.