re: goblin admit's God I just read their announcement now and ouch. They have to pay a franking debits tax LOL If they cant keep a ledger of their franking credits, how are they meant to run a business.
I tell you what; KIA are dead. I work in insolvency and once you gain a reputation for ill management, your source of referrals drop off completely. Without referrals, you get nothing. You rely on referrals to get all your jobs in insolvency whether that be receiverships, VAs (Voluntary Adminstrations etc).
For god sake debtors are refusing to pay. Debtors are taking advantage of the situation.
One could argue they are trading whilst insolvent now, $340k overdraft, substantial legal fees, write down of assets, loss of $22 million. THese guys have no idea how to run a public company. Reminds me of the Stockford debacle (where I used to work). Accounting companies should not be listed on the ASX period.
Anyway KIA is dead and Goblin my advice to you is sell now take what you can because they are GONE for all money.
Cheers
KIA
knights insolvency administration limited
