The sole secured creditor is National Australia Bank, which is owed $1.16 million.
The sole secured creditor is National Australia Bank, which is owed $1.16 million. Kieran Salsone

Company wound up

A COMPANY linked to Sunshine Coast real estate heavyweight Loren Wimhurst of Next Property Group is being wound up with debts of at least $1.4 million.

Maroochydore-based liquidator Paul Nogueira, from Worrells Solvency and Forensic Accountants, advised the Australian Securities and Investments Commission last Thursday he had been appointed to the creditors' voluntary winding up of Wimco Properties Pty Ltd.

Ms Wimhurst and her husband, David, are Wimco's sole directors.

In Mr Nogueira's report to creditors, dated last Thursday, Wimco's liabilities are listed at more than $1.4 million - although there may be more creditor claims.

Anthony Gorman, who successfully sued Wimco in October for more than $80,000 in unpaid commissions but had not received the money, is one of the three unsecured creditors listed on Worrells' creditors report.

They are owed $252,000 in total.

The sole secured creditor is National Australia Bank, which is owed $1.16 million.

Just prior to the announcement of Wimco's liquidation, a new company called Next PG Pty Ltd was registered.

An ASIC company search showed that Next PG was registered on November 10, with Ms Wimhurst named as the company's sole director on the registration application.

Mr Gorman is concerned that Next Property Group has been sold or transferred for no dollar value, possibly to Next PG.

"Either way that group, that trading name, has a value and when we get to go through the statement of accounts with Worrells, we'll certainly be investigating the sales price of that asset, if (there is) any," he said.

Ms Wimhurst previously ran the Ken Guy Maroochydore and Noosa franchises.

Last year, the Queensland Supreme Court awarded Mr Guy an undisclosed amount after ruling Wimco had breached its contract.

Mr Guy this week told the Daily he had been paid the money, but was chasing Wimco for a further $40,000 and the court case for that matter was pending.

On Worrells' creditors report, Mr Guy is listed as being owed $40,581.

Mr Guy declined to comment when he learned Wimco was in liquidation.

A liquidation expert said there was nothing stopping Ms Wimhurst from launching another company.

Ms Wimhurst did not return the Daily's calls.

Wimco's first creditors meeting will be held on January 9.

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