Emaux Water Technology Australia goes into liquidation

Following financial difficulties, swimming pool equipment supplier Emaux Water Technology (Australia) has gone into liquidation.

The liquidation only applies to the Perth-based supplier Emaux Water Technology (Australia) and does not affect the Emaux China manufacturing operation in Hong Kong, which is itself owed monies by the Australian operation.

At the time of writing, Emaux China had not registered as a creditor although it had been given notice by the liquidators. While Emaux Water Technology (Australia) has a supplier contract with Emaux China, there are no common ownerships.

Creditors

Registered creditors so far include 23 companies totalling $279,099 in debt, and any further creditors are advised to contact the liquidators.

Chris William of WA Insolvency Solutions has been appointed liquidator jointly with David Hurt.

A very orderly creditors' meeting was held in Perth on March 16, ratifying the liquidator’s appointment and approving the remuneration. Further meetings will only be held if there is the need to gain creditors' approval for an action by the liquidator.

Assets include stock and some vehicles. There is no intellectual property and there are no primary secured creditors.

Two salespeople have been engaged by the liquidators to sell stock and they have received a couple of offers to bulk-buy stock and are considering them based on what would provide the best return for creditors.

Anyone interested in purchasing stock, currently selling at cost or near cost price, should contact Monty Purich.

Further action

The liquidators are not required to hold any further meetings unless creditors have to approve something, however there are new Commonwealth laws coming into effect in October which may change the requirements.

After selling the stock the liquidators will do an investigation for ASIC into the company’s ongoings, as is required by law.

Any creditors with claims should come forward, as should anyone interested in purchasing stock. All enquiries should be directed to Monty Purich of WA Insolvency Solutions on (08) 9463 3048 or by email mpurich@wais.com.au.