ATO hit by celeb snapper Darryn Lyons’ $2m business collapse
A company controlled by the fake-abbed photographer has failed, leaving almost $2 million owed to creditors. See who is owed money.
A company controlled by former Geelong mayor and paparazzo Darryn Lyons has collapsed owing almost $2m to creditors including employees and the Australian Taxation Office.
The company, Big Australia, was put into liquidation by Mr Lyons and his business partner, Mario Gregorio, on April 18.
Mr Lyons, who became famous for his celebrity photo business, fake abdominal muscles and multi-coloured spiky hair, now runs a group of companies in his home town of Geelong, near the Victorian Surf Coast.
According to a report signed by Mr Lyons and filed with the Australian Securities and Investments Commission, Big Australia owed $34,000 to employees, $356,400 to the ATO and more than $500,000 to trade creditors when he and Mr Gregorio pulled the plug on the company.
It is not clear what role the company played in Mr Lyons’ wider business empire, the Big Group of Companies, which owns Geelong nightclub Homehouse, the town’s Elephant & Castle Hotel and holiday rental properties in Queensland and France.
However, staff listed in the report to ASIC as owed money by Big Australia include employees of Lyons Gallery, which sells modern and contemporary art and photography at Sheraton hotels.
Sheraton hotels in Queensland and Sydney are owed a total of $11,630.
In his report, Mr Lyons claims Big Australia owes him personally $118,848 and owes an additional $200,559 to a company called Setuco that he and Mr Gregorio own.
The company’s banker, Westpac, is owed $120,000.
Kia Finance, the money lending division of Korean car company Kia, is owed $25,000.
Drinks company Moet Hennessy is also listed as holding security over the company’s assets, but it is not clear whether it is owed any money.
Unless further assets are discovered creditors face a shortfall of more than $1.6m, as Big Australia had debts of $1.925m and assets totalling just $300,000.
In a report to creditors filed with ASIC, liquidator Scott Anderson of Worrells said he would recover and sell any available assets, investigate the company’s affairs and report any findings to the Australian Securities and Investments Commission and distribute any available money to creditors.
Staff and Westpac are first in line for any distributions.
Mr Lyons, who is reportedly attending the wedding of Sydney shock jock Kyle Sandilands this weekend, has been contacted for comment.
Born in Geelong, Mr Lyons was one of London’s most aggressive and tenacious paparazzis during the 1990s.
He became extremely famous after appearing on the UK version of Celebrity Big Brother in 2011, where he exposed his faux six pack to the viewing public.
His photo company, Big Pictures, collapsed in 2012 and he returned to Geelong and ran for mayor the following year.
He was victorious but the entire council was sacked in 2016 after an inquiry found it was dysfunctional and had a culture of bullying.
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Originally published as ATO hit by celeb snapper Darryn Lyons’ $2m business collapse
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