Director of collapsed company, Subrosa Group Pty Ltd, revealed to owe $1.3m in personal loans

Creditors have been told they will need to fund “recovery proceedings” as it is revealed the director behind a collapsed Sunshine Coast mortgage broking company took out more than $1.3m in personal loans.

Subrosa Group Pty Ltd director Scott Roberts.

The director behind a collapsed Sunshine Coast mortgage broking company took out more than $1m in personal loans, a report to creditors has revealed.

Liquidator Paul Nogueira released a report to creditors on Tuesday outlining his findings into the company, Subrosa Group Pty Ltd, and the director, Scott McDonald Roberts.

The company, which offered a mortgage broking service based in Birtinya, ceased operating and was placed into liquidation on May 14, 2024.

Australian Securities and Investments Commission documents show the company was first registered in September 2012.

According to the latest creditors report, Mr Roberts took out a number of loans from the mortgage broking company each year between 2018 and 2023.

The report shows the loans total to about $1.34m across the five years.

Mr Robert’s separate company, Septem Arcanis Pty Ltd, also owes the Subrosa Group company $86,189.

Mr Nogueira said he contacted Mr Roberts regarding the loan repayments.

“I have issued demands to Scott as director of the company and Septem Arcanis Pty Ltd, requesting repayment of the outstanding loans,” Mr Nogueira said.

“The director has provided signed statutory declarations indicating that neither he nor Septem Arcanis holds any assets or has the capacity to repay the balance owing.”

Mr Nogueira said due to Mr Roberts self-proclaimed incapacity to repay the debts there were a number of possible “recovery proceedings” including personal bankruptcy.

“I am prepared to look at recovery proceedings, including possibly the bankruptcy of Scott and the liquidation of Septem Arcanis,” Mr Nogueira said.

“However, given the impecunious position of the liquidation, funding from creditors would be required to proceed.”

Mr Nogueira said investigations also indicated the company had possibly become insolvent in the 2022 financial year.

The report estimates the company has about $11,149 in assets, with investigations revealing the Subrosa Group owns neither property or company cars.

The total estimated debt owed to unsecured creditors currently stands at $1.59m, with about $230,000 owed to the Australian Taxation Office.

Mr Roberts was contacted by this publication for comment regarding the loans he took from the company and the findings of possible insolvency.