ADCON VIC PTY LTD

Further to the voluntary administrators appointment on 31 May 2024, the execution of the DOCA on 6 September 2024, the Deed Administrators collected $3,125,000 of the $5,000,000 Deed Fund.  Following an application by the ATO to set aside the DOCA, the DOCA was set aside and the Companies wound up on 26 March 2026.  

Following the court orders winding up the Companies, on 26 March 2026 the secured creditor appointed Mackay Goodwin as Receivers and Managers.  The Receivers and Managers have sought a claim over the balance of the Deed Fund, being approximately $2,500,000.  

On 14 May 2026, the Liquidators filed a section 90-15 application to seek directions on the treatment of the Deed Fund, that is, whether the Deed Fund should be paid to the Receivers and Managers or retained in the liquidation.