Gold Coast-based IT services provider Synergy Integrations has appointed a liquidator after becoming unable to meet debts to parties including the Australian Taxation Office.
The company failed to pay $129,000 in taxes as part of a total of $174,000 owed to unsecured creditors. Morgan Lane of Worrells Solvency and Forensic Accountants was appointed in September.
Synergy Integrations provided IT, security, analytics, telephone initial setup and ongoing maintenance to clients in the Gold Coast area, with operations in Upper Coomera and Ormeau.
The company specialised in remote building access and smart building automation solutions, and worked closely with strata management and commercial property specialists.
Synergy also had $125,000 in debts from secured creditors, which were mostly related to vehicle purchases and leases. Distributor Sektor initially registered secured interest, but later withdrew after advising Worrells that it was no longer owed any funds upon the appointment.
The combined amount of $322,000 was also more than Synergy’s estimate of $200,000 owed.
Worrells has not identified any possibilities of insolvent trading or having done any voidable transactions, although said it was due in part to having limited records on hand.
The administrator said it will proceed with the liquidation, including selling the company’s remaining assets and further investigating company affairs, and expects to be completed in the next three months.
CRN has attempted to contact Synergy's directors for comment.