Anthony Quinn files bankruptcy petition for Danny Isaac, boss of Descon, Adcon, over $457k debt

A rival developer has moved to bankrupt the head of a besieged development group as it continues to battle a deluge of debt claims.

Bankruptcy proceedings have been filed against embattled developer Danny Isaac – on the eve of his birthday – as his Descon and Adcon companies battle a deluge of debt claims.

Rival developer and former Descon employee Anthony Quinn filed a creditor’s petition late on Thursday, the day before Mr Isaac’s 37th birthday.

Mr Isaac has previously been bankrupt under the name Sami Adib.

Mr Quinn issued a bankruptcy notice, giving Mr Isaac until December 18 to pay – or formally argue against paying – $456,868 he was ordered by the Brisbane District Court to hand over in November.

Federal Court documents show Mr Isaac has not filed any counterclaim, and an affidavit by Mr Quinn said no payment or response had been received for the bankruptcy notice.

A hearing for the bankruptcy action has been scheduled for March 6 in the Federal Court at Brisbane.

Meanwhile, Mr Isaac has lodged an appeal against the initial $456,868 order, made after months of legal wrangling between the pair, which started in the Federal Court.

Mr Quinn, who runs development company QNY, claimed he was owed more than $1m in unpaid wages and losses over a property investment in the initial case, which settled out of court.

The feud was reignited in the District Court after settlement payments from Mr Isaac and his company weren’t made.

The Bulletin has contacted Mr Isaac for comment.

Anthony Quinn, Danny Isaac

The move comes as four Descon and Adcon companies are in liquidation, with wind-up action looming for parent company Descon Group Australia.

Receivers were called in last week to the $180m Akin luxury tower development in Brisbane after a bitter fallout between its builder, Descon, and developer Tallis Group.

Insolvency records show Mr Isaac, then known as Sami Adib, was bankrupt from September 5, 2011 until December 24, 2020, but was able to direct companies, obtain loans and insurance bonds worth untold millions and win billions of dollars in construction contracts during that time.

Bankrupt individuals are not eligible to hold Australian company directorships or builder licences.

Company and insolvency documents show Mr Adib had left Western Australia – where he was bankrupted and three of his construction companies had been wound up by the courts – before beginning a new east coast life as Danny Isaac.

Despite the revelations, made by the Gold Coast Bulletin in September, Queensland’s building regulator has taken no action on the licences of Mr Isaac and his companies.