29/03/2018 - 15:13

Burswood auction house into liquidation

29/03/2018 - 15:13
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Liquidators have been appointed to Burswood-based Hayes Auctioneers after the business suffered financial difficulties, with up to 40 sellers out of pocket.

Liquidators have been appointed to Burswood-based Hayes Auctioneers after the business suffered financial difficulties, with up to 40 sellers out of pocket.

Consumer Protection said two consumers have reported being owed $5,000 each and an investigation is underway to determine if any legal breaches have occurred.

Consumer Protection commissioner David Hillyard said affected sellers should register with the liquidator.

“Now that a liquidator has been appointed, we urge those who are owed money to register with them so that they may have a chance of getting paid,” he said.

“The role of the liquidator is to wind-up the business and fairly distribute assets to creditors.

“However, an unsecured creditor’s chances of getting anything back are often slim because they are generally last in line to be paid after employee wages, taxes and secured creditors such as banks.”

Daniel Bredenkamp from Pitcher Partners has been appointed as the liquidator.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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