Aboriginal & Torres Strait Islander Corporation for Disabled and Respite Care to be wound up
A Townsville disabled and respite corporation which has served the community for more than 30 years will be wound up after racking up more than $1 million in debt.
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A Townsville disabled and respite corporation which has served the community for more than 30 years will be wound up after racking up more than $1 million in debt.
An examination of the Aboriginal & Torres Strait Islander Corporation for Disabled and Respite Care by the Office of the Registrar of Indigenous Corporations in 2019 found poor management and governance had amounted to its spiralling financial position.
When the special administration began in February 2020, the corporation’s debt exceeded $1.1 million.
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The Registrar of Indigenous Corporations, Selwyn Button, announced the end of the special administration of the Gulliver-based corporation.
“Unfortunately, the corporation’s poor governance and management left no alternative but to wind up the corporation,” he said.
“Despite every effort by the special administrators to renegotiate financial arrangements and reinstate a system of good governance, in the end there was no prospect of restoring the viability of the corporation, and the best interests of the community will be served by finding alternative organisations to deliver the corporation’s services.”
The decision to end the administration follows the Supreme Court of Queensland order on July 24 for the corporation to be wound up. Ian Currie of BRI Ferrier Brisbane has been appointed as the liquidator.
Special administrators Neil Michel and Mark O’Shea from Enmark Pty Ltd have transitioned some of the corporation’s clients to other respite care providers.
Originally published as Aboriginal & Torres Strait Islander Corporation for Disabled and Respite Care to be wound up