Ex-staffer to failed restaurateur: Pay up
Investigations ongoing into failed company that operated Mooloolaba restaurant as ex-staffer speaks out calling for his super to be repaid.
Sunshine Coast
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EX-EMPLOYEES are closer to learning their fate after the collapse of Todd Young Investments Pty Ltd left staff owed more than $120,000 in unpaid superannuation.
Todd Young Investments had operated Bella Venezia restaurant at Mooloolaba through a trust. A new owner now operates the restaurant.
THE BACKGROUND: Former director hits Vegas days after company collapses
Todd Young Investments director and sole shareholder Todd Youngwound the company up on December 29 last year, owing $738,218 to 23 unsecured creditors and about $125,000 in unpaid super.
Liquidator Travis Pullen said he'd identified "a number of potentially voidable preference payments" made to certain creditors in the six months prior to Mr Pullen's appointment.
Mr Pullen said those payments may be able to be recovered to enable a partial repayment of outstanding superannuation to staff- which he considered the number one priority.
THE FALLOUT: National radio, readers and new owners weigh in
Bart Sempka, a former chef at Bella Venezia, said he was owed just over $3600 in superannuation.
He firmly believed staff should be repaid their entitlements.
"I want what's owed to me. It's only fair," Mr Sempka said.
"I don't want any extra, I just want what he (Mr Young's company, Todd Young Investments) owes me. This is for my retirement."
Mr Pullen said investigations into any potential insolvent trading were still ongoing, as he prepared to finalise his Australian Securities and Investments Commission report and said he would report to staff if enough money was recovered to repay their super.
Mr Young could not be contacted for comment.
Originally published as Ex-staffer to failed restaurateur: Pay up
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