Administration of the company, Australis Scaffolding, reports $2M in debts

A Queensland scaffolding company, placed into voluntary administration earlier this month, accumulated $2 million in debts a report to creditors has revealed.

Australis Scaffolding Pty Ltd enters voluntary administration.

A Sunshine Coast-based scaffolding company, placed into voluntary administration earlier this month, accumulated $2m in debts, a report to creditors has revealed.

The company, Australis Scaffolding Pty Ltd, directed by Scott Jury, Kevin Lee and Luke Harper-Green, entered voluntary administration on August 5 according to Australian Securities and Investments Commission documents.

Registered in September 2021, the company operates offices across south east Queensland in Maryborough, Gympie and the Lockyer Valley, with a head office in Chevallum.

Administrator from Vincent’s, Nick Combis, published his latest report to creditors on Wednesday revealing debts totalling to about $2m had been advised by the company’s directors.

Australis Scaffolding director Kevin Joseph Lee.

The report stated among the company’s largest debts are those owed to the Deputy Commissioner of Taxation for about $597,707 and to the Commonwealth Bank of Australia for $492,652.

The Trustee for Australis Safety Rail Unit Trust, a related party to the company, is also owed $841,809, according to the creditors report.

The report stated the highest realisable value of the company’s assets was currently estimated at $609,912 and about $77,549 was owed to Australis Scaffolding by debtors.

Mr Combis said he didn’t expect his investigations would uncover any unpaid staff entitlements and the three co-directors had indicated to him they wished to submit a proposal for a deed of company arrangement to restructure affairs and continue trading.

“I have sought additional information from the directors with respect to the DOCA and to complete my investigations into the company’s examinable affairs,” Mr Combis said.

“Upon the receipt of the information I will then report to creditors on my findings and provide my opinion on whether it is in the best interests of creditors for the company to execute a DOCA.”

Three separate companies were listed in the report as related entities including Australis Roofing Pty Ltd, Australis Investments Pty Ltd and Australis Safety Rail Pty Ltd.

Australis Scaffolding has been contacted by this publication for comment.

Originally published as Administration of the company, Australis Scaffolding, reports $2M in debts