On 1 July 2020, Jason Bettles of Worrells Solvency and Forensic Accountants was appointed voluntary administrator of Travelsim Australia Pty Ltd (Travelsim).
Since 2006 Travelsim has provided a cost-effective mobile service for international travellers through its TravelSIM product, and more recently diversified its mobile service to a local sim product branded FlexiSim. Both products are rechargeable services that work with existing handsets by providing a new Australian mobile number on a SIM card.
Mr Bettles said, “The director’s difficult decision to appoint a voluntary administrator follows a range of external pressures, but the main driver has been the COVID-19 travel restrictions. Traditionally this time of year sees many Australians flock overseas to enjoy the European summer but the enforced travel ban across the globe has decimated demand.”
Worrells advises the administration is still in its infancy and its teams are working hard to assess and determine all aspects of the business position and operations.
Mr Bettles said, “Our goal, together with the director is to navigate through this incredibly difficult period to get the best possible result for the business, its customers and creditors. The TravelSIM and FlexiSIM services will continue uninterrupted and with ongoing customer support during the voluntary administration period.”
Customers, creditors, and concerned parties are invited to email email@example.com with any queries. Creditors can lodge claims in the voluntary administration via the Worrells website www.worrells.net.au.
Worrells assert that the objectives of the voluntary administration regime allow businesses to address issues and if possible—with creditor approval—return it to a healthy trading prospect.
Under the voluntary administration process, a first meeting of creditors is held within eight business days of the appointment, and a second meeting of creditors is usually held within 20 to 30 business days, when creditors of Travelsim will determine the future for the business.
Worrells has 29 offices and partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for over 47 years.
Jason Bettles Partner, Gold Coast