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FILE PHOTO Tobi Loftus

NT Government debt sends Toowoomba company to the wall

>>RELATED: Suspended building company now in liquidation

A TOOWOOMBA training organisation that was contracted to the Northern Territory Government went into liquidation after being asked to repay $330,000 for the "under delivery of training services funded by the government" from 2014, according to a liquidator's report.

Farm Gate Training and Consulting Pty Ltd was a registered training organisation that operated out of an office at Russell Street, Toowoomba, since 2008. Its primary business was contracting to the Northern Territory Government for the delivery of education services to individuals in the agriculture industry.

The director Susan Gleeson advised liquidator Adam Ward of Worrells Solvency and Forensic Accountants that the company began to experience financial difficulty around August 2017 upon receiving an invoice from the NT Government for repayment of $333,421.

"The repayment of funds is in respect to the under delivery of training services funded by the Government in 2014," Mr Ward wrote in his report.

"The company was unable to repay this debt due to insufficient working capital, and as a result the director placed the company into liquidation."

The company has $201.66 in the bank and owes roughly $300,000 to nine creditors.
 



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