New Revelations In The Q1 Homes Collapse Case

Q1 Homes Collapse

Menzies Advisory continues in the Federal Court in Brisbane in the case of Queensland One Homes. As the story unfolds in relation to the water damaged servers which held important financial information, Michael Caspaney, our Principal Registered Liquidator, recalls how he discussed the issue with the creditors earlier in the year.

Without the complete financial records, it is difficult for Menzies Advisory as the appointed liquidators and the legal team to fully understand the collapse of the business which went into administration in July 2017, carrying debts of more than $5.8 million.

Read the full article from the Gold Coast Bulletin below or visit their website to read the original article.

This clipping is from the October 5 issue of The Gold Coast Bulletin Digital Edition. To subscribe, visit https://www.goldcoastbulletin.com.au/.

Shock claims over Q1 Homes collapse
Gold Coast Bulletin – Saturday, 5 Oct 2019 – Page 11

FAILED Gold Coast builder Paul Callender told his lawyer that servers with crucial financial information may “come to harm” just weeks before they were found water damaged in the back of a ute, a court was told.

Mr Callender previously denied damaging the servers during the five-day hearing into the collapse of builder Queensland One Homes in the Federal Court in Brisbane this week.

Liquidator Michael Caspaney had told creditors at a meeting in September that he had “faced difficulties” collecting records on Q1 Homes because the servers had been damaged.

Q1 Homes, which counts Mr Callender as sole director, collapsed in July 2017, owing more than $5.8 million to over 130 tradies and taxpayers, and leaving families with incomplete homes. The hearing is the fulfilment of an election eve funding promise from the State Government and seeks to examine Q1 Homes’ business model in detail and what led to the company’s failure, and also to look into the collapse of the Cullen Group.

Solicitor Daniel Wignall appeared yesterday to give evidence on the final day of the inquiry.

On July 26, the same day liquidator Anne-Marie Barley was replaced by Mr Caspaney, Mr Wignall met with Mr Callender.

Edward Moon, counsel for the inquiry, asked Mr Wignall about the discussion, which concerned delivering servers that contained crucial financial records for Q1 Homes to Mr Caspaney.

“You made a note: ‘I said you need to cough this up. PC (Paul Callender) said it might come (sic) some harm before he delivers it’ ?” Mr Moon asked.

“If that is what the final note says,” Mr Wignall responded.

Mr Moon said: “Do you recall that discussion?”

Mr Wignall: “I don’t particularly recall that discussion .”

Mr Moon: “Do you recall – and you say from your notes

– if the servers had already come to some harm or whether they would come to some harm?”

Mr Wignall: “Privilege. I think the discussion was centred around ‘would’ come (to some harm).”

Mr Wignall agreed with Mr Moon that he had understood the servers had not been damaged at that point.

Mr Caspaney reported to a creditors’ meeting in September that he had found the servers in the back of a ute in August.

Q1’s server, which contained two hard drives, was water damaged and the files were unable to be recovered.

Yesterday was the final day of the inquiry, which has seen Mr Callender, his wife Amber Callender, accountant Kevin Dellow, and Cy Pearson of FRD Homes Pty Ltd all give evidence in relation to Q1 Homes.

Menzies Advisory

Menzies Advisory Liquidation & Receivers are Certified Practicing Accountants and Registered Liquidators with over thirty years’ experience in commerce and insolvency. Company directors, accountants, lawyers and business consultants turn to us for expert, compassionate advice in difficult times. Our professional consultants implement the most practical solutions to meet your complex business and financial issues.

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