WAIS chosen for first WA liquidation of a strata scheme

In a West Australian first, Kim Strickland (Managing Partner WA) and Jimmy Trpcevski (Principal) of WA Insolvency Solutions (WAIS) have been appointed as official liquidators of a strata scheme – the Argosy Court strata plan – under the Strata Titles Act.

The Argosy Court strata plan was responsible for a group of temporary dwellings that were based in Exmouth, Western Australia. The temporary dwellings were badly damaged by Cyclone Vance in 1999, when 70 per cent of the buildings in the area were destroyed. Since this time, there has been ongoing litigation among the owners, especially over payment of fees and levies.

As a consequence of the ongoing litigation matters, there was also a communication breakdown between the members of the strata. This resulted in Kim and Jimmy being nominated to consent as official liquidators after one of the solicitors involved in the ongoing litigation met members of WAIS at a presentation on the Personal Property Securities Act.

The main roles of the official liquidators were to, inter alia, “deal with the recovery of amounts due to the strata, facilitate the exchange of the relevant certificates of title between the owners and settle disputed claims,” says Jimmy.

According to Jim Baker (WAIS Senior Manager), “A number of issues have already been worked through and resolved, and are due to settle shortly.”

WA Insolvency Solutions gives regular talks and presentations to accountants on a range of issues. If you would like more information or to attend a Jirsch Sutherland/WAIS training session, then call 1300 JIRSCH (1300 547 724).