Company behind Hallam’s restaurant in Launceston wound up as Federal Court refuses to allow more time to pay debt

The Federal Court has made its decision in the case of a popular restaurant fighting for more time to pay off an outstanding debt and avoid insolvency.

The Hallam’s Waterfront Seafood Restaurant building remains on the market after the company was wound up over an outstanding tax debt. Picture: PATRICK GEE

THE Federal Court has refused to give a Launceston restaurant more time to pay off a tax debt, and has wound up the company in insolvency.

Registrar Susie Stone today ordered Salisbury Hallam Pty Ltd, the company behind the popular Hallam’s Waterfront Seafood Restaurant, be wound up.

Registrar Stone also appointed a liquidator.

Documents filed with the court showed the company owed the Australian Taxation Office $668,488.16.

Company director Salisbury Hallam appeared in the Federal Court in Hobart on September 12 and asked for time to sell the property and pay off the debt.

The case was adjourned until today.

The property remains on the market with vacant possession and some plant and equipment to be included in the sale. Offers of $1.5 million are said to reflect the value of the riverfront site.

Offers are open until October 23 unless it is sold before then.

Registrar Stone previously said she had everything she needed to wind up the company and today was not willing to grant another extension.

The court also ordered Salisbury Hallam Pty Ltd pay costs of $3055.

Hallam’s restaurant has been operating at 13 Park St since 1996. It is the first time in 32 years the property has been on the market.