Creditors look to liquidate Descon Group Australia as four related companies wound up by courts

Creditors are closing in on an embattled national development and construction group, with four of its companies in Victoria and NSW plunged into liquidation and wind-up looming in Queensland for the parent company.

Creditors are closing in on embattled development and construction group Descon, with four of its companies in Victoria and NSW plunged into liquidation and wind-up action looming in Queensland for the parent company.

Despite Descon Group’s financial troubles, and revelations its boss was an undischarged bankrupt when he became a director of numerous companies, Descon’s $240m Queensland builder licences remain intact.

Descon and its companies have worked on major projects including the CBD North and Parkville train stations in Melbourne, and has existing projects across the Gold Coast and in Brisbane.

The four companies in liquidation owe at least $5m between them, much of it in unpaid tax.

Cottee Parker Architects have lodged a wind-up application for Descon Group Australia in the Brisbane Supreme Court over a $576,397 debt.

The matter remained listed for hearing Thursday morning, despite a last-minute bid by Descon to adjourn it until February.

The Waverley Residences, under construction by Descon in Southport.

The Gold Coast Bulletin contacted Descon managing director Danny Isaac, also known as Sami Adib, for comment.

Court documents lodged in the Queensland case say Descon engaged Cottee Parker for design work on its proposals for 3321 Surfers Paradise Bvd and 19 Hercules St in Hamilton.

Both projects have since floundered.

Cottee Parker lodged the wind-up action in November after Descon’s “failure to comply” with a settlement deed that required payment of the debt in instalments from October, the court documents said.

Documents lodged in the case also revealed Descon had been evicted from its office in George St, Brisbane over unpaid rent.

The company left its head office in Sydney under the same circumstances in May.

Descon Group Australia director Danny Isaac.

Developer Anthony Quinn has joined the Cottee Parker windup as a supporting creditor, along with development consultancy firm Urbis and labour hire company Workcon Qld.

Liquidators of Final Form (Qld), which collapsed with $17m debts last year, are also party to the Descon Group wind-up.

Meanwhile, two related companies directed by Mr Isaac have been wound up on consecutive days, with Adcon Structural Steel Group going into liquidation on November 22 following wind-up action by ANC Cranes.

Descon Vic was wound up by Melbourne-based steel supplier MF Management Services in the Supreme Court of Victoria on November 23.

The company names for Descon Vic and Adcon Structural Steel Group were changed to their ACNs shortly before they were wound up.

A third company, Adcon Contracting, went into liquidation on Tuesday after a court wind-up by the tax office, which claimed it was owed $2.43m.

That case had three supporting creditors: land surveying company No Problems, Just Solutions; formwork company Peri Australia and engineering firm Awe Consulting.

Company records show Adcon Contracting has been solely directed by another individual since 2021, with Mr Isaac the previous sole director from when the company was incorporated in 2016.

Mr Isaac is currently sole director of its ultimate holding company, Adcon Group of Companies.

Anthony Quinn, Danny Isaac

A fourth company directed by Mr Isaac, Adcon Management, was wound up on November 2 with debts of more than $2.9m, including $1.6m to the tax office.

Liquidator Paul Langdon said he was investigating “related party loans and transactions” by Adcon Management.

Descon and Mr Isaac recently lost a separate case against former employee Mr Quinn, simmering for more than 18 months since Federal Court action alleging unpaid wages and losses over a property investment.

The case was settled for $745,000, but Mr Quinn never received it, sparking new Brisbane District Court action, which Mr Quinn won.

Court documents reveal Descon and Mr Isaac failed to pay the new court-ordered amount, instead launching a counterclaim against Mr Quinn.

That counterclaim was dismissed in November, with Judge Bernard Porter ordering Descon and Mr Isaac pay Mr Quinn $440,368 in cash and interest, plus costs.

Originally published as Creditors look to liquidate Descon Group Australia as four related companies wound up by courts