Theresa Black was appointed Liquidator of Rockabilly Entertainment Pty Ltd by order of the federal court on 1st April 2021.. Theresa has completed the realization of company property which has yielded $140,000. Having adjudicated the submitted proofs of debt. Theresa has listed the following creditors of Rockabilly Entertainmnet Pty. Ltd.
Scott and Morisson Solicitors Costs in obtaining winding up order 7,500
Therese Black, Liquidator Remuneration 38,000
Mick Jones, employee, outstanding annual leave at liquidation 4,500
Australian Taxation Office
Unpaid tax assessed on Rockabilly Entertainment Pty Ltd 95,000
Australian Taxation Office PAYG Tax owing 25,000
Sparky Electricians for work completed before the liquidation 1,800
Hammersmith Auctioneers
Auctioning company property on instructions of Theresa Black 19,000
Walter Long(Director of Rockabilly Ent. P.Ltd)
Unsecured Loan 21,000
Prime pencils Computer Supplies delivered before liquidation 4,000
Wages due at liquidation 4,500
Queensland Governmnet
Unpaid payroll tax assessed on company as at date of liquidation 6,000
Ledger and Balance, AccountantsFees for work done prior to Liquidation 5,000
Determine how the liquidator, Theresa Black will distribute the $140,000to the creditors of Rockabilly Entertainmnet PTY LTD.
Show all your workings and provide references to sections of the Corporation Act 2001 to support the priority of the payments made.
