A Canberra auctioneering company has debts of at least $1.1 million, mainly to the Federal and ACT Governments, according to the liquidator, Ray Dawson, of Ernst Young.
Mr Dawson was appointed official liquidator by the Federal Court last Friday. The company, Sale-O Pty Ltd, traded as Australian Capital Auctioneers, and had a large trade in selling government goods, especially cars, furniture and computer equipment.
Mr Dawson said a “”best estimate” presented to the court showed the company had assets of $40,000 and debts of $1.1 million after 2{ (two and a half) years trading.
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