On 21 May 2018

On 11 April 2018, Morgan Lane of Worrells Solvency and Forensic Accountants was appointed administrator of Jeygar Investments Pty Ltd trading as Good Real Estate, in Gladstone. The voluntary administration appointment was subsequently moved to liquidation appointment on 17 May 2018, with the same appointee, Mr Lane at Worrells.

The business is still trading with staff retained and there will be no impact on property owners and tenants under Good Real Estate’s management and sale listings. The business will also take on new listings.

Worrells is seeking an orderly sale of the company’s business and other assets to enable payment of outstanding employee entitlements and amounts owing to its other creditors.

The director indicated that several factors contributed to the company’s insolvency and subsequent liquidation, including: downturn in industry and economy, and continued trading losses.

The administration is in its infancy, with Mr Lane calling for creditors to lodge a formal proof of debt via Worrells’ website (www.worrells.net.au). Reports to creditors will be issued shortly, further to statutory investigations being completed.

Worrells has 25 offices nationally and 26 partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for 45 years.

–ENDS–

Contact

Morgan Lane
Partner, Worrells Brisbane & Rockhampton
morgan.lane@worrells.net.au

Morgan Lane

Morgan Lane joined the firm in 1992 and became a full partner in 1996. His wealth of experience gained in both the private and public sectors adds further depth to our insolvency division. Morgan is a Fellow of CPA Australia accredited as a Specialist in Insolvency & Reconstruction, a Fellow of Chartered Accountants Australia and New Zealand and a Member of The Institute of Corporate Manager, Secretaries and Administrators.

T: (07) 3225 4330 E: morgan.lane@worrells.net.au

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