Plutus Payroll Australia

General Information

Tim Norman, Sal Algeri and Eddie Senatore were appointed Joint and Several Provisional Liquidators of the 10 companies within the Plutus Group on 9 June 2017 by the Supreme Court of New South Wales (the “Court”) following an application made by the Deputy Commissioner of Taxation.

On 9 October 2017 the Court ordered that these ten (10) entities be wound up. They also ordered the winding up of BRW Services Pty Ltd on the same day.

The Plutus Payroll Group of Companies provided payroll services to various companies. The PP Group has been the subject of significant media attention recently due to alleged tax fraud committed by the Companies and a number of related parties.

Currently, the Australian Taxation Office and the Australian Federal Police are pursuing a number of the individuals involved.

Liquidators’ Role

The powers of the Liquidators are wider than those afforded to a Provisional Liquidator. Accordingly, now that the entities have been wound up, we will, amongst other things:

• Continue to investigate the affairs of these Companies, including a review of the Companies’ books and records for the purposes of identifying any offences or misconduct committed by the directors and identifying any voidable transactions which may be recoverable by the Liquidators for the benefit of creditors;
• Preparing reports to the Australian Securities and Investments Commission (“ASIC”) regarding the Companies’ affairs and any offences identified;
• Report to creditors (including employees) – creditors can expect to receive a preliminary report 20 business days after our appointment and a further, more detailed report after 3 months as required by the Corporations Act 2001 (the “Act”);
• Correspond with creditors and review claims submitted;
• Reconstruct the Companies payroll information system and analyse the Companies books and records in order to quantify outstanding employee entitlements; and
• Assist employees with making claims under the Fair Entitlement Guarantee Scheme.

We are unable to provide any specific information regarding likelihood or timing of any return to creditors at this time. We ask that creditors be patient in the interim.

Please refer to this website for further updates.