Tahitian Gold Enterprises, trading as Sydney Freight Services, has gone into voluntary administration, according to the Australian Securities & Investments Commission’s (ASIC) publication notices website.
ASIC data confirms that Alan Hayes and Christian Sprowles of Hayes Advisory have been appointed administrators of the transport company, which is based out of the Sydney suburb of Padstow.
CRTNews understands a first meeting with creditors in January, with a second meeting to be held in the coming weeks.
“The meeting was held specifically for creditors to decide whether or not they wanted to form a Committee of Creditors to assist the administrators and whether they wanted to replace the administrators, they chose not to do so,” Hayes told CRTNews.
“The meeting also provided creditors with an opportunity to ask the administrators questions.”
According to Hayes Advisory, the sale of the business has been advertised and an information memorandum on Sydney Freight Services has been sent out to parties that have signed a confidentiality agreement with the company.
A timeline for the asset sale or winding-up of the company has not been issued.