AJ & JR Lynch Pty Ltd (Administrators Appointed)
On 14 July 2022, Nathan Deppeler and Matthew Jess of Worrells were appointed Voluntary Administrators of AJ & JR Lynch Pty Ltd.
The company is a Horsham based residential home builder that has been building homes for regional Victorians for nearly 14 years. The company had 11 homes under construction and has ceased trading following the appointment of Voluntary Administrators.
Mr Jess said, “the directors appointed the administrators following pressures placed on the company due to fixed price contracts and increasing supply costs and delays in the supply chain.”
Mr Jess said, “It is early stages of the administration process and we are working to immediately establish the company’s financial position, including identifying assets available for realisation and quantifying claims of creditors. We are conscious and understanding of the impact the appointment will have on everyone involved, particularly employees and customers.
“We ask that creditors lodge their Proofs of Debt via our website at worrells.net.au.
“We will provide updates as they become available”.
The company had 11 employees with outstanding entitlements yet to be verified. Debts owing to employees will be paid from the available assets to the extent there are realisations sufficient to meet their claims. If the company is ultimately placed into liquidation, eligible employees have recourse through the government’s Fair Entitlement Guarantee Scheme for certain outstanding employee entitlements when company assets are unable to meet those debts.
–ENDS–
Media Enquiries - Matthew Jess, Principal
03 9613 5500