Adcon Qld, Danny Isaac, aka Sami Adib, loses Queensland builder licences, Descon still licensed

A major building company has been given a deadline to replace its director before the QBCC cancels its licence. The move follows the banning of a former bankrupt whose companies owe millions of dollars to creditors across Australia.

• ASIC can’t find director of $25m company collapse

Descon Group Australia has been declared an “excluded company” by the Queensland building regulator, and has been given 28 days to replace its embattled director before its licence is cancelled completely.

The move follows the banning of Danny Isaac, also known as Sami Adib, whose companies owe millions of dollars to creditors across Australia.

Descon Group Australia is also facing wind-up action by a group of creditors, which is due to return to court on February 28.

Mr Isaac was banned from holding a Queensland builder licence, or from running a licensed company, until December 8, 2026.

Under the terms of the ban, he is excluded from holding a contractor, nominee supervisor or site supervisor’s licence, or from running a licensed company, due to his role as director of Adcon Qld, which went into receivership in December.

Danny Issac of Descon Group Australia.

Commenting on his exclusion via lawyer Clint Kanther, Mr Isaac said “the QBCC’s decision will be subject to review and such matters properly brought to the attention of the QBCC in seeking to the that determination set aside”.

“With respect to the QBCC determination, the status of our client’s company was affected for approximately 24 hours before the contractual dispute was promptly resolved,” the response said.

A statement from the QBCC said Descon’s licence could not be automatically cancelled, despite its director’s exclusion.

“An excluded company, in this situation, has 28 days after written notice from the QBCC to remove any directors who are excluded individuals to avoid cancellation of the company’s licence,” the statement said.

“Due to strict confidentiality obligations under the QBCC Act, the QBCC cannot provide details of any individual case that are not publicly available.”

Bankruptcy proceedings against Mr Isaac are set to return to court next month while four Descon and Adcon companies are in liquidation.

Wind-up action looms this week for parent company Descon Group Australia.

Receivers were called in to the $180m Akin luxury tower development in Brisbane after a bitter fallout between Descon, and developer Tallis Group, which has since gone into liquidation itself.

Despite the insolvencies, and revelations Mr Isaac was an undischarged bankrupt when he applied for his builder licences, Descon Group Australia this week remained licensed for maximum revenue of more than $240m a year.

Descon Group Australia’s sole director Danny Isaac.

The QBCC said it could not reveal the details of all its activities, including current investigations “to ensure its work is done as effectively as possible, and to not prejudice any outcome”.

“When applying for a QBCC licence, all applicants are asked a series of questions to establish that they are fit and proper to hold a licence,” the regulator said in a statement.

“Just like when an individual applies for a driver’s licence, when a person provides a statutory declaration to the QBCC, it is a legal document and there are penalties under law.

“If the QBCC finds evidence of false information, it will take action, including contacting other agencies and referring matters for their consideration.

“If it is determined a person may not be fit and proper to hold a contractor’s licence, QBCC action can include, but is not limited to, suspending or cancelling an existing licence.”

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

The liquidator of one of Mr Isaac’s companies, Adcon Management, has told creditors his investigations had been “impeded” by the director, and that ASIC has been “unable to locate or contact” him.

Brisbane-based Adcon Qld cancelled its $140m revenue open building licence in March, a month after the QBCC banned it from working in the open category for not having a suitable nominee.

Company documents show Adcon Qld’s receivership ended after $141,605 was paid under a settlement deed to secured creditor Bizcap, and another $8394 in receiver’s fees was also paid.

Documents lodged in the receivership said Adcon Qld had 20 secured creditors, including Bizcap, which was owed $590,000.

Amounts owed to the other secured creditors, or to unsecured creditors, if any, were not revealed.