News to hand indicates that Signage, Shop fit-out and cladding firm, the Skope Group of companies which was placed into administration last week by Cor Cordis, has not fulfilled its DOCA terms from the last administration it was connected with, and may well be planning another phoenix-like operation. Here’s what we know so far.
|21-23 Badgally Rd Campbelltown, NSW where Skope's manufacturing takes place|
The Skope Group Pty Ltd and trading entities (T/AS SKOPE GROUP SERVICES; SCREAM VISUAL; SIGNAGE SKOPE; SIGN FIX; FORMERLY T/AS FOCAL SIGNS; ACKSIS GROUP; SKOPE MAINTANENCE SERVICES,) were placed in administration on 29th February 2020. Scottish Pacific Finance is believed to have called in Cor Cordis.
However, Skope Group Pty Ltd is the ‘supporting creditor’ paying monthly amounts under a DOCA administered by PKF’s Simon Thorn as terms of the administration of Clear Skies Corp Pty Ltd, a company so closely affiliated with Skope Group, that Skope’s director, Ann Mary Orren was deemed by PKF to be a de-facto director of Clear Skies. Skope has made four monthly payments of $22,000 each since the DOCA came into effect, but February’s payment was missed.
PKF has been chasing this payment, with a total of $700,096.24 remaining outstanding on or before 17th September 2022, and Mr Thorn stating in a letter sent to creditors on 4th March that: “I am concerned there is likely to be a material contravention of the Deed.” If the Deed is terminated, the full amount becomes payable immediately by Skope Group. However, Skope Group is now in administration.
Of further concern is news that Orren registered a holding company Skope Group Holdings Pty Ltd, on 28th August 2019 (paid-up capital $5) – followed by a trading name “Skope Group Wholesale Manufacturing” on 25th February 2020 – just three days before Skope Group Pty Ltd was placed into administration. This tends to indicate an intention to carry on the same business under a slightly different name.
All the more so when the principal place of business address is 21-23, Badgally Road, Campbelltown, NSW 2560 – the same address from where Clear Skies and its trading names FM Wholesale Manufacturing, Scream Visual and Comm-Klad had plant and equipment.
The registered office of Skope Group Holdings Pty Ltd is given as:
L 11, 309 Kent Street, Sydney 2000
It would appear that this financial advisory firm is advising Ann Orren.
Cor Cordis has yet to compile a list of creditors in the administration of Skope Group Pty Ltd former creditors under the Clear Skies DOCA will effectively be creditors again under the new administration.
As this imbroglio unravels, we will bring you further developments.