Claims against Dreamtime Pools exceed $2m, as damages mount

Damages are mounting for Pools and Spas Pty Ltd, which traded as Dreamtime Pools, as more creditors make claims.

Damages claimed against failed Bannockburn pool company Dreamtime Pools have passed $2m as liquidators' investigations continue. Pictured, a muddy, collapsing hole left in customer’s yard and inset, company director Doug Constable from LinkedIn.

Claims lodged against a failed Bannockburn pool company have surpassed $2m, as liquidators continue their investigations.

Pools and Spas Pty Ltd, which traded as Dreamtime Pools and Spas, went into liquidation in June.

Dozens of customers have claimed they paid for pools that were not installed, and reported little to no contact from the company at times after payment.

Some customers had sent money to the company days before it went into liquidation.

Liquidator Malcolm Howell of Jirsch Sutherland is now looking to verify the claims of 137 creditors, up from 131 in June, with damages currently estimated to be just under $2.2m.

According to the firm, the company’s debts to ordinary, unsecured creditors, which include customers, suppliers and contractors, could be around $1.98m.

Employees of the company are owed just under $140,000 and secured creditors, who have a security interest in the company’s assets, are owed about $30,000.

These claims are unverified and are based on proof of debt information lodged with liquidators.

The Geelong Advertiser understands Jirsch Sutherland are also looking into where the funds have been used.

Following the company’s liquidation it was revealed a Point Cook builder linked to the company was under investigation by the Victorian Building Authority.

In July, the Geelong Advertiser revealed that contractors and suppliers have alleged they were chasing payment for months before the company went under, with some owed tens of thousands of dollars.

Pools and Spas Pty Ltd’s director, Doug Constable, declined to comment on how the company’s debts could have reached $2m.

The Geelong Advertiser understands up to $1.8m of the debt may have been in forward contracts.

Mr Constable estimated potential damages claimed by unsecured creditors as being $123,562, according to paperwork included in the liquidator’s initial report to creditors.

Mr Constable has previously denied any wrongdoing and alleged a campaign “of innuendo and half truths” against him.

“Over the past six to 12 months there has been a concerted media and social media campaign, staff shortages, supply delays, material cost blowouts and logistics costs,” he told the Geelong Advertiser in June.

On his former website, Mr Constable advertised himself as a “pre-insolvency adviser” and has authored a book titled “What to do When You Can’t Pay Your Debts”.

Mr Constable’s website appears to have been deactivated.

Originally published as Claims against Dreamtime Pools exceed $2m, as damages mount