Builder WAC & Co goes into voluntary liquidation with debts of almost $4.7m

A building company – with a link to one of Brisbane’s largest construction industry collapses in the past decade – has gone into voluntary liquidation owing millions.

WAC & Co goes into voluntary liquidation owing almost $4.7m.

A prestige residential builder – whose business development manager was a director of a construction company that spectacularly failed almost a decade ago – has collapsed owing almost $4.7m.

WAC & Co went into voluntary liquidation three weeks ago and will be wound up, with SV Partners Anne Meagher appointed liquidator.

The company was behind the construction of homes in Ascot and Balmoral as well as industrial buildings.

According to a report lodged with the Australian Securities and Investments Commission sundry debtors were owed $4.659m.

The company was registered in 2018 with Wesley Tudor Vasile as the sole director and owner. Vasile is also a senior pest technician with Everton Park-based Trusted Pest Management – a company run by his brother.

WAC & Co’s business development manager Adam Copping

According to LinkedIn Adam Copping has been WAC & Co’s business development manager since April 2018.

Copping was a former director of Trac Developments, which was placed in liquidation on March 7, 2016, with creditors out of pocket to the tune of $20m.

An ASIC investigation found that soon after the appointment of liquidators, Copping fraudulently removed an Isuzu truck that belonged to the company without providing any consideration.

He pleaded guilty in the Brisbane Magistrates Court in July 2018 and fined $2500.

s a consequence of his conviction, Copping was disqualified from managing companies until July, 2023.

Citybeat left messages with Vasile and Copping but they were not returned.

On the wagon

Dry July kicks off today and long-time partners – premium no-alcoholic business Lyre’s Spirit Co – will be there in support.

Since it began in 2008 by the not-for-profit Dry July Foundation the annual event that challenges people to abstain from drinking alcohol throughout July to raise funds for cancer support organisations has raised more than $90m.

Noosa-based Lyre’s co-founder Carl Hartmann – who is celebrating the birth of second child Cara four weeks ago – says they have been an early supporter and are the foundation’s “official campaign partner”.

“Our staff really gets behind it and it’s for a really good cause. Cancer has touched all of us in different ways,” he says.

Lyre’s co-founder Carl Hartmann.

Hartmann (illustrated) says the switch to no-alcoholic drinks during Dry July can make the transition much easier.

“If people have never done a dry month, it’s interesting to go through – it’s a good challenge and people are surprised how they feel afterwards,” he says.

Meanwhile Lyre’s is working with its ambassador, Australian cricket captain Pat Cummins to spotlight how a more mindful approach to drinking can elevate social settings plus the benefits of not drinking when playing sport.

Hartmann says Lyre’s growth remains on track with the US “leading the charge”.

“There’s solid growth across all markets and actually 90 per cent of our customers are drinkers and use Lyre’s to moderate their alcohol and calories,” he says.

Brand trust

Anglicare Southern Queensland has continued its seven-year winning streak in the annual Reader’s Digest Trusted Brands Awards.

The not-for profit organisation was named as Australia’s Most Trusted Brand in Aged Care and Retirement Villages.

Anglicare Southern Queensland chief client officer Chloe Henry says: “To have received this recognition for the seventh year in a row is a terrific achievement and a testament to the dedication and hard work our residential and aged care staff provide to our residents every single day.”

Originally published as Builder WAC & Co goes into voluntary liquidation with debts of almost $4.7m