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A Queensland mortgage brokerage formerly accredited with Australian Finance Group has been liquidated by the tax man.
Specialised Finance Group was wound up in December, with John Greig of Deloitte appointed liquidator.
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Mr Greig is on leave and could not be reached for comment. However, a report he lodged recently with ASIC shows that the Australian Taxation Office has made a claim for $105,000. The report also notes that Specialised Finance has $55,000 of assets, leaving a deficiency of $50,000.
An ASIC search revealed that the ATO first moved to liquidate the company in July.
Specialised Finance director Simon Price could not be reached for comment. The company’s phone number has been disconnected and Mr Price had not responded to an email by press time.
Specialised Finance was based on the Gold Coast and also had a Brisbane office. The company offered mortgage broking, commercial finance, short-term bridging finance and debt recovery services, according to its website.
Australian Finance Group general manager Mark Hewitt told The Adviser that it was company policy not to comment on clients.
However, Mr Hewitt added, “We encourage our members to come to us if they find themselves in financial difficulty as often we can assist them overcome short-term cash flow issues with commission advances or other types of funding or business assistance and advice.”
