CQ club's liquidation nears completion three years on
MORE than three years since CQ Leagues Club went into receivership, the company which left a debt of more than $2.5 million, is expected to be wound up by next month.
Documents submitted to the Australian Securities and Investments Commission in April this year reveal $2,585,150.34 was owed to creditors with $495,694.23 paid since the liquidation date.
The companies assets were estimated at $505,665.06 with no future income expected.
Employee wages and superannuation owed was estimated at $815.
There was a further $101,999 owed in employee leave and redundancy payouts however it is understood this has been paid out under the Federal Government's fair entitlement guarantee scheme. A 2018 report states $53,217.87 was paid of this.
At the time of the clubs closure 25 staff were employed.
The report outlined 69 unsecured creditors were owed $2,482,336.34.
Of this $153,709 was owed to the Deputy Commissioner of Taxation, $247,391 to the Department of Natural Resources, Mines and Energy (manual tax amount) and $9,725 to CocaCola Amatil.
The company is expected to be wound up by August this year.
The club was registered in 1974 and was formerly known as Brothers Leagues Club.
The CQ NRL Bid Team acquired the club in 2009 and changed the name to the CQ Leagues Club to support a bid for a National Rugby League team in the region.
Directors included Laurence Gorman, John McDevitt, Stephen Parle, John Jenkins, Stephen Smith, Ellen Farlow, Wayne Daniels, Dominique McGregor and secretary Damian Bolton.
Four gaming machines were also purchased through Tomkins in late 2017 for $24,000 and cigarettes stock for $300.