Queensland One Homes liquidator says multi million-dollar Gold Coast case could take two more years

PROPERTY and other assets linked to failed Gold Coast company Queensland One Homes is being sold off piece by piece, but it could be another two years before subcontractors and suppliers receive any of $5 million they’re owed. Here’s why

PROPERTY and other assets linked to failed Gold Coast company Queensland One Homes is being sold off piece by piece, but it could be another two years before subcontractors and suppliers receive some — if any — of more than $5 million they’re owed.

A report to creditors from liquidator Michael Caspaney said he’d received proof of debts totalling $5.3 million, including $383,523 to the Australian Taxation Office, $90,680 in state payroll tax and millions of dollars to more than 50 other parties — many of them Gold Coast small businesses and sole traders.

Mr Caspaney also confirmed the government had made good on its election-eve promise to fund a public examination of Q1 Homes, via the QBCC.

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Paul Travis Callender and Amber Patrice Callender. Photo: Facebook

Paul Callender was the sole director, which collapsed in July 2017 and along with his wife’s company Empire Constructions, has been probed by the QBCC and ASIC for alleged phoenix activities.

Fencers, roofers, electricians and painters are named in the Q1 creditors report, which also include details of two creditors purportedly owed more than a million dollars each.

The Wongawallan acreage where the couple were building a home sold for $1 million in May, along with a four-bedroom display home at Kalbar, which was sold for $385,000 and another new homes at Yarrabilba which sold for $399,500.

A sprawling waterfront home at Hazeldean still owned by Ms Callender, and a home at Springfield Lakes in both names, did not appear to be listed for sale this week.

Two jetskis and a tandem trailer owned by the company’s bankrupt director Paul Callender were seized and auctioned, raising $5329.

After the case went to the Supreme Court, the liquidator reached a settlement with the Callenders and their related companies for a sum which has not been publicly disclosed.

Mr Caspaney told creditors all but $75,000 of the settlement amount had been paid, with the rest expected to come from the sale of further properties.

The tax office agreed to pay $280,000 to the company to settle a claim from the liquidator it had received $452,332 in preferential payments while Q1 Homes was trading insolvent.

The day before the last election, the State Government pledged to fund a public Federal Court examination of the case which is likely to proceed next year.

COURT FREEZES ASSETS OF COUPLE LINKED TO Q ONE HOMES COLLAPSE

Amber Callender and Paul Callender enjoyed an Australia Day break at their holiday home on the Sunshine Coast hinterland. Photo: Supplied

In a previous submission to the Supreme Court, Mr Caspaney named “a commercially unrealistic business model” and “a systematic drawing down of the company’s liquid assets in favour of related parties” had caused the insolvency.

The court was told important company records had been water damaged when computers were left in the back of a ute and that phone records were lost by the previous liquidator.

Mr Caspaney’s report states he found emails and other evidence that actions were taken to change contracts and display home signage from Queensland One Homes to Mr Callender’s wife’s company, Empire Constructions, a few weeks before the company collapsed.

The Queensland Building and Construction Commission referred allegations of illegal phoenix activities to corporate regulator ASIC.

Mr Callender then started a new company, Phoenix Rural Fencing with his wife as the director.