Melbourne builder Avra Group collapses into liquidation owing $1.2m

It’s been revealed that a building company that collapsed earlier this year had just $17.80 left in its bank account.

In July, news.com.au reported that melbourne-based bespoke building company liquidation-customers-900k-home-in-limbo/news-story/4aad87affe6d039e68b6db5ad06346ca” target=”_blank” title=”www.news.com.au” data-tgev=”event119″ data-tgev-container=”bodylink” data-tgev-order=”4aad87affe6d039e68b6db5ad06346ca” data-tgev-label=”finance” data-tgev-metric=”ev”>Avra Group (Aust) Pty Ltd had entered into liquidation.

A report prepared by Philip Newman of insolvency firm PCI Partners, the appointed liquidator, showed that the company owes around $1.2 million to around 37 unsecured creditors.

Avra Group owes staff around $24,000 in unpaid entitlements while other creditors include the Deputy Commissioner of Taxation owed an unknown amount, NAB and Westpac, Bunnings, a law firm and a number of tradies.

“The company operated one bank account with the National Australia Bank which the director has advised held a credit balance of approximately $17 at the date of liquidation,” Mr Newman wrote.

“NAB has since confirmed that the company maintained one bank account which held a credit balance of $17.80.”

In all, Avra Group has total assets estimated to be worth $305,000.

Among those was a vehicle, which the company’s sole director Mark Avramoski possessed, with a realisable value of around $26,000.

Creditors have expressed concern upon discovering that Mr Avramoski has partnered with another…

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