UDW Pty Ltd: Emma Tubb’s bid to recover dad Phil Tubb’s lost $180K
A Tasmanian woman is making desperate attempts to repay her father’s lost loan to the joinery business she owned with her company director ex-husband, which collapsed owing $470,000.
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A messy legal dispute is brewing between a former Tasmanian woman and her company director ex-husband, whose firm received a $200,000 loan from her father, 90 per cent of which is now likely gone forever.
West Launceston man Damian John Whybrow and his ex-wife Emma Tubb’s Legana company, UDW Pty Ltd, which operated businesses Unique Vanities and Unique Doors and Windows, was ordered into liquidation by the Supreme Court of Victoria in July.
A report released earlier this month by firm GS Andrews Advisory alleged the collapsed company owed a total of $469,323.98 to dozens of secured and unsecured creditors.
Chief among them is Longford’s Phil Tubb, the father of Ms Tubb. He is owed $180,000 of a $200,000 loan provided to the company. He will see a return of $1980 in a best-case scenario.
Ms Tubb, who has since moved to Queensland’s Gold Coast, owned the company 50–50 with Mr Whybrow and was engaged as an employee, although it’s understood she played no role in the day-to-day running of the business.
She told the Mercury she intended to remortgage the West Launceston family home, which she purchased in 2007, prior to meeting Mr Whybrow, in order to repay her father, but had discovered Mr Whybrow had placed a caveat on the property.
“I went to borrow the money against my house, which I brought at 20 on my own, well before Damian and I met, to discover that he had put a caveat on it,” Ms Tubb said.
(I have sent) tonnes of emails to Damian asking to take the caveat off my house so I can pay dad and he just won’t.”
In desperation, Ms Tubb has started an online fundraiser in an attempt to recoup funds for her father and other creditors left out of pocket.
“I would ideally love to raise enough funds to pay these people back their hard-earnt money,” she said.
Separately, Ms Tubb’s lawyers are attempting to mount an argument that the loan was to Mr Whybrow in his personal capacity, rather than to the company. This would make Mr Whybrow personally liable for repayment, Ms Tubb’s firm argues.
This has not been accepted by Mr Whybrow’s lawyers.
They argue that because the repayments were made by UDW Pty Ltd, not Mr Whybrow from any of his personal accounts, this suggested it was the company which is liable for the debt.
A second UDW Pty Ltd creditors’ meeting was held on October 20, where the liquidator’s remuneration was approved and other business was finalised.
A second creditors’ report will be circulated “only if required”, meeting minutes noted.
The first creditors’ report stated unsecured creditors would receive between zero–11 cents in the dollar. Secured creditors would see between 51 cents–$1 returned.
Attempts were made to contact Mr Whybrow via email, text message and social media.
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