Dreamtime Pools and Spas goes into liquidation owing at least $820,000
Following the collapse of pool builder Pools R Us earlier in June, a second Victorian pool builder has gone into liquidation.
Fibreglass pool installer Pools & Spas Pty Ltd trading as Dreamtime Pools and Spashas shut down owing at least $820,000. It is expected the total amount will be greater once all creditors’ claims have been received.
It has been estimated that 50 customers have been left with unfinished pools. There have been accusations by aggrieved clients that Dreamtime took money when they knew they were going into liquidation, including from one retiree who claimed he paid Dreamtime $39,875 three days before the company went to the liquidators. He says the pool never materialised and the shell manufacturer told him that, despite what Dreamtime had told the him, the shell had never been made.
Dreamtime’s principal is Douglas Constable, who also runs a pre-insolvency consultancy helping people with cashflow difficulties, and is author of “What to do When You Can’t Pay Your Debts”.
Dreamtime Pools and Spas operated in Geelong, Ballarat, Bendigo and western Victoria.
In an episode of A Current Affair broadcast on the evening of July 3, 2023, Constable admitted to having been bankrupted three times, though he says two of those bankruptcies were annulled after creditors were satisfied, as well as being convicted of financial deception after attempting to deceive authorities when applying for a liquor licence.
A Current Affair also spoke with furious customers who are left without pools, and claimed that because Constable used a different builder’s licence number on his contracts, they couldn’t claim insurance.
Malcolm Howell of Jirsch Sutherland has been appointed liquidator of the company. He says they are still investigating a number of issues around the insolvency, including how many pools are left incomplete and the question of the timing of taking deposits and other monies.
He says investigations are ongoing relating to what percentage of deposits, if any, are likely to be returned to customers.
“The likelihood of a return to creditors will be advised in Jirsch Sutherland’s report to creditors within three months of the date of liquidation,” says Howell.
This should be available on or before September 9, 2023.
Five staff were terminated at the commencement of the liquidation, and are among the main creditors. It is estimated employees are owed $139,882.
Pool industry suppliers are estimated to be owed $34,783.
Howell says that Jirsch Sutherland’s investigations are continuing. Howells says Constable said there were various factors involved in the collapse of the company including staff shortages, supply chain delays, and the increasing cost of logistics and materials.
SPLASH! will update this story when more is known.
Creditors can contact Jirsch Sutherland on:
Phone: (03) 8605 7333
Email: MalcolmH@jirschsutherland.com.au
