Downfall of apparel boss and former rich-lister
A FORMER Queensland rich-lister has hit rock bottom after being bankrupted by the taxman.
Tyron Howard Brant was co-founder and chief executive of a sportswear manufacturer that supplied a host of professional teams including the Wallabies, Brisbane Lions, Gold Coast Titans and Melbourne Storm.
But in the Federal Circuit Court in Brisbane on Wednesday, Registrar Katie Lynch brought it all to an end, ordering the 40-year-old from Helensvale be bankrupted.
Court documents show Brant was bankrupted over the $844,359 he owes to the Australian Taxation Office after he allegedly failed to pay withholding tax as a director of World Rugby Specialists (WRS).
The court has appointed insolvency specialists Anne Meagher and David Stimpson to act as his bankruptcy trustees.
His bankruptcy comes four years after Brant and his father Kim - who developed the company with him - appeared in The Sunday Mail Queensland's Top 150 Rich List with a fortune estimated at more than $90 million.
Brant's younger sister Lauren is a former member of children's entertainment group Hi-5 and is married to former AFL player Barry Hall.
Tyron and Kim Brant's WRS business - trading as BLK - was providing state-of-the-art apparel for a string of top rugby, league, AFL and soccer teams, as well as supplying thousands of schools and grassroots clubs with gear.
It had expanded into the UK, Europe and the US, with plans to double the business.
But WRS was placed into receivership in 2016. It sold its sportswear brands to an East Timor-based company last year, but Brant remains chief executive of sports clothing seller BLK.
The ATO has commenced action through both the Supreme Court and the Federal Circuit Court to reclaim the debt.
The Supreme Court was told that tax bill arose out of failure to pay withholding tax on behalf of WRS between June 2015 and February 2016.
Brant did not defend the Supreme Court action. But court records show he paid $6256 to the ATO between September and December 2017 and has paid a further $1466 since the date of judgment.
Brant did not respond to requests for comment.