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Craig Matthew Adams - former proprietor of Golden Arrow, Mikara Developments, Bargo Developments, Key Asset Management and more

Picture of Mark Smith Mark Smith : 2 June 2019 4:15:07 PM

Current projects Asset Protection ATO debts Assignment of chose in action Assignment of debt 632 Old Northern Rd Defendant profile bankruptcy Dural Alliances Ralph Ignatius Paligaru Ralph Paligaru Public examination Creditors Statutory Demand legal questions Windup application Corporate insolvency insolvency legal concepts insolvent trading personal guarantees Liquidation Mohan Kumar? Business Asset Protection director's duties DCPLH projects receivership

revised in part on 15 and 16 December 2020 by Mark Smith

Craig Matthew Adams ("Craig"), who lists his occupation as "investor", is a former company director.

Craig came to DCPLH's attention related to several insolvent companies liquidated in mid to late 2018.  The group of companies includes:

  1. Golden Arrow International Pty Ltd
  2. Bargo Developments Pty Ltd
  3. Mikara Developments Pty Ltd
  4. Mikara Investments Pty Ltd
  5. Greenviews Castle Hill Pty Ltd

Craig is personally bankrupt.  A copy of the sequestration order is viewable here.

Craig was personally liable for a debt of $4m (plus interest) from Mohan Kumar.  DCPLH is the assignee of Mohan Kumar for the fruit of that debt - an assignment entered into by Ralph as Kumar's POA.  DCPLH was also the assignee of Reliance Leasing for a small debt owed by Craig and Bargo at the time of Craig's bankruptcy.

Craig was made bankrupt on 13 December 2018 by a debt owed to Australasian Property Group Pte Ltd ("Australasian").  Craig trustee in bankruptcy is Andy Scott of PWC.

Presently, Craig's debt to Australasian is $2,059,753.46 (as at 31 May 2019).  Australasian are yet to recover the alleged debt (as at 31 May 2019) according to published documents.

Craig's creditor's report is available for inspection here.

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