Taurus Accounting, previous director Kevin Harker, owes unsecured creditors $515,820.94

A new report has revealed the liquidation of a Rockhampton accounting firm has almost doubled. Six staff are also owed $139,000 in wages, super, leave and redundancy payments. FULL DETAILS.

The liquidation of a Rockhampton accounting firm has blown out with debts of more than $500,000 – almost double what was originally estimated in initial reports 18 months ago.

Taurus Accounting, which operated out of a home premises on Cambridge Street, The Range, went into liquidation in December 2020.

Nigel Markey of Pilot Partners was appointed as the liquidator.

At the time of the liquidation, Hamish Harker was the director of the company, promoted to the position 11 months before the liquidation.

Previous to this, his father, Kevin Harker was the director.

Kevin was sentenced to two years jail in 2021 for a separate matter when he fraudulently claimed more than $50,000 in fake GST refunds on behalf of other entities which he controlled.

He served two months at Woodford Correctional Centre.

A new report was filed by the liquidator in January 2022.

The report includes an annual return, from December 2020 to the following December 2021.

The return stated six persons were still owed wages, super, leave and redundancy payments totalling $139,888.71.

Unsecured creditors were owed $515,820.94.

The first liquidation report 12 months beforehand, in December 2020, estimated the unsecured creditors to be $182,829 and the total debt to be $260,000.

There were no secured creditors at the date of the return.

Under receipts and payments for the period from 21/12/2020 to 20/12/2021, there is $21,243.86 in payments, understood to be outstanding invoices from clients for accounting services.

There are also four payments from the Advisory Partner Services Trust, made in February, March, July and October, totalling $33,374.46.

It is understood this could be for the sale of the client list.

In a previous report filed in 2021, the liquidator alleged Mr Harker may have organised the transfer of clients after the liquidator was appointed, without the liquidator’s knowledge or approval.

Such a transfer would have been a breach of the Act and the liquidator reported this suspected breach to ASIC. No charges have been laid.

It was also alleged Kevin Harker may have acted as a de facto or shadow director.

It is expected the liquidation will be finalised at the end of 2022.