On 13 December 2017

On 28 November 2017, the members of Comet Training Pty Ltd appointed Christopher Darin and Simon Cathro of Worrells Solvency and Forensic Accountants as liquidators in a members’ voluntary winding up.

The company is solvent, and a ‘declaration of solvency’ has been lodged with the Australian Securities and Investments Commission. This form’s purpose is to notify that in the directors’ opinion, the company can pay debts in full within 12 months of the members’ voluntary winding-up being commenced.

The liquidation was prompted by financial irregularities reported to the board by the company’s external financial adviser and shareholders resolved to complete the final step in the business’s wind down of the business.

Worrells will investigate these financial irregularities, the realisation of assets, repayment of all creditors, and return of capital to the company’s shareholders.

Worrells advises that creditors may lodge a Proof of Debt in the liquidation via its website www.worrells.net.au.

Worrells appreciates the impact the appointment has on businesses and the community and will continue to proactively communicate with all stakeholders.

Worrells has 26 offices nationally and 24 partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for over 40 years.

—ENDS—

Contact:

Christopher Darin
Partner, Worrells Sydney
christoper.darin@worrells.net.au

Simon Cathro
Partner, Worrells Sydney
simon.cathro@worrells.net.au

Christopher Darin

Chris is a Registered Liquidator and associate member of the Institute of Chartered Accountants in Australia. Chris joined the firm as partner of the Sydney firm in July 2008 having been in practice on his own account since 1996. Chris' experience includes all aspects of corporate insolvency and adopts a consultative approach when exploring all financial avenues available to a distressed company. Chris also undertakes corporate advocacy appointments, assisting directors and companies in dealing with their debtors, creditors and other insolvency practitioners.

T: (02) 9249 1214 E: Christopher.Darin@worrells.net.au

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