Collapsed caravan company referred to ASIC amid $9 million debt
A creditors' meeting for Australian Off Road, which collapsed last week, reveals the caravan maker owes about $9 million.
The Queensland caravan manufacturer Australian Off Road (AOR) has filed a complaint with ASIC regarding the company's operations before it ceased trading. AOR's administrators, DVT McLeods, revealed the company owes $9 million during the first creditors meeting. Nearly 50 customers will lose $2.25 million in progress payments for unfinished caravans, while around 70 employees are owed $2.16 million in unpaid wages, superannuation, and leave entitlements.
The Australian Tax Office claims at least $2.72 million from AOR, and suppliers are owed $1.6 million. Despite having assets worth $755,000, only 13 caravan chassis have been located. AOR's director, Barry Russell Evans, has been criticized for his response to the administrators' inquiries. The administrators are investigating the move of AOR's trading names to a related company, AOR Holding Co Pty Ltd, and whether completed caravans were delivered to related parties leading up to the collapse.
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