Adcon Admin tax, superannuation debts revealed in Federal Court windup documents

The eye-watering tax and superannuation debts owed by a failing company in a national construction group have been revealed in court documents.

A construction company placed into administration by the director of a flailing national group owes more than $12.5m in tax and unpaid superannuation, court documents have revealed.

Adcon Admin, which employed staff for the struggling Adcon and Descon companies, was subject to wind-up actions in two courts before it went into administration.

WorkCover Queensland had sought to wind up the company in the Brisbane Supreme Court, while the tax office launched wind-up action in the Federal Court.

Documents from the Federal case reveal Adcon owed $10.78m in pay-as-you-go tax and another $1.7m in superannuation charges and penalties for a total of $12.49m as at November 2023.

Adcon Admin and Descon Qld were both placed into administration on April 17, before court wind-ups on both companies could proceed.

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

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

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

Commenting about the administrations on Mr Isaac’s behalf, lawyer Clint Kanther said it was part of a “restructure of the Descon Group”.

“Financial arrangements with debtors and creditors are in the process of being resolved,” he said.

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

The Descon Group action was initiated by Cottee Parker Architects, and has eight petitioning creditors including Mr Quinn, American Express, Workcon (Qld), Blue Mojo, Coates Hire and Urbis.

The matter is set for hearing from Wednesday, May 1.

Descon Group Australia director Danny Isaac.

It’s not the first time Mr Isaac has been in court over a debt to AMEX, with an earlier case settled outside of court.

Documents filed in that case revealed Mr Isaac had a relationship with his Instagram-influencer personal assistant, who he then blamed for racking up a mammoth debt on his limitless black Amex card.

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 including the tax office.

Originally published as Adcon Admin tax, superannuation debts revealed in Federal Court windup documents