National engineering consultancy WalkerBai Consulting collapses, leaving millions in debt
An Australian engineering consulting firm with offices in Sydney Melbourne and Brisbane has gone into liquidation, leaving millions owed to creditors.
A national engineering consulting firm specialising in the property and construction industry has plunged into liquidation, with debts running into the millions.
Eight companies under the group, known as WalkerBai Consulting, collapsed in October.
The total amount owed by the various entities is not yet known, but an initial report to creditors from the liquidator shows the tax office claims they are owed more than $2.6m, alongside interrelated party debts exceeding $1.3m.
The firm offered facade engineering and consultancy, as well as engineering consulting services specialising in electrical, mechanical, fire protection and hydraulic systems, with offices in Surry Hills in Sydney, South Brisbane and in Melbourne’s CBD.
Recent projects undertaken by the group included works at Emmanuel College, Moreton Bay College, and Hills College in Queensland, and for community organisation Rekindling the Spirit and Tweed Shire Council in New South Wales
It is understood WalkerBai also has a team in the Philippines, with the company recently posting on social media about a visit to its 60-plus staff in San Fernando.
“Under the leadership of Ashwin Muralidharan we have built a formidable hydraulic and fire engineering team across Australia and Philippines in the past four years,” a post to the business’ Facebook reads.
“We are incredibly proud of the culture we’ve built together, one where our Philippines colleagues value the opportunities, the scale and complexity of the projects they work on, and the benefits we provide.
“Beyond adding depth and capability to our business, our Philippines team gives us a competitive edge.”
The firm is also understood to have a related entity in Asia.
Insolvency expert Nick Combis of Vincents, who was appointed on October 8, said all companies ceased trading shortly before his appointment.
“The directors of the companies cite unmanageable debt levels as the primary reason for the companies’ insolvency,” he said in a report to creditors.
CFS Global – which was based in South Brisbane and offered facade engineering and consultancy – collapsed owing an estimated $127,516 to the tax office, and $1841 to software company Strand7.
WalkerBai Central, which was responsible for the group’s payroll obligations, owes the tax office $626,800, alongside entity Eton Outsource, which provided workforce outsourcing services, owing the ATO an additional $680,999.
WalkerBai Group, which is the oldest of the companies registered in 2015, folded amid an estimated $600,000 debt to the tax office, as well as $1m to related parties and $7341 to engineering recruitment consultancy Recruitr.
Its New South Wales arm owes $187,961 in tax debt, and money to companies Bowden Accountants ($5062), Designfire Consulting Engineers ($1100), The Trustee for EW Environment Trust ($12,430) and Triplex Electrical Services ($6050).
The Victorian arm owes $267,568 to the tax office and $7370 to structural engineer Sheer Force Engineering.
Mr Combis said he will proceed with the liquidation, including recovering and selling any available assets and investigating the companies’ affairs.
It is not yet known whether creditors are likely to receive any money back.
The liquidator said he had requested the companies’ directors to submit a report on company activities and property – which includes details about the business’ assets and liabilities – but was yet to receive any documents.
WalkerBai Group and WalkerBai Central lists its current directors as Kevin Walker and Jeremy McDonald.
Gurinder Nainu is also listed as a director of the group’s New South Wales arm, as well as its Victorian arm alongside director Stewart Mann.
WalkerBai Consulting was contacted for comment.
