Companies owe $150,000

THE banks are at the top of the list of creditors in line to collect from two Forest Hill companies.The major shareholder of MRQ Pty Ltd and the former Quarmby Grocers Pty Ltd (now known as 072713609) is well-known Wagga businessman, Milton Robert "Bob" Quarmby.The companies were placed into voluntary liquidation on April 28 and are now in the hands of Sydney-based insolvency firm Jirsch Sutherland's liquidator Bradd Morelli.In excess of $150,000 is owed to 18 creditors associated with the two companies, including more than $60,000 to the Australian Taxation Office, $23,000 to Country Energy and $20,000 to Rest Super.Amounts owed to Bankwest and National Australia Bank, Recoveries Corporation in Melbourne and two individuals are still unknown.A meeting of creditors is scheduled for this Friday at Jirsch Sutherland's Hunter Street offices at 10am and 11am for 072713609 and MRQ respectively.Mr Morelli said the meetings are of a general nature, where creditors must first approve of his appointment as liquidator. He hopes to attract at least a quorum of two to the discussions."One, the fees get approved by the creditors, and secondly, it gives the opportunity for creditors to say they don't think (if it's a fair appointment) ... it's just a general meeting," he said yesterday.Mr Quarmby was quick to defend the liquidation process."They (the companies) haven't traded for a long while -one hasn't traded for three years and the other for 18 months," he said."They're not operational ... they'll be liquidated and be done with it."Almost $27,000 is owed to six businesses in the Wagga and Albury areas which are included on the list of unsecured creditors.If no objections are made to Mr Morelli's appointment as liquidator, an investigative process then begins."Talking very big picture, I'll investigate what, if any assets the company has. Initial discussions (with shareholders) say there's nothing there," he said.Mr Morelli will also compile reports for creditors and the Australian Securities and Investment Commission (ASIC), as well as assessing any further claims.Two other companies of Mr Quarmby's, Loriso Pty Ltd and Lifoon Pty Ltd, which include the Forest Hill Shopping Centre, Airport Tourist Park and the Shanty Hotel, were placed in receivership in mid-March.Peter Krecji from Sydney's BRI Ferrier was appointed receiver and manager of those companies, and investigations are still continuing to assess how much is owed to creditors and the bank.Mr Krecji and his staff are in the process of securing an agent for the sale of properties associated with Loriso and Lifoon. Those properties will most likely be auctioned off.