Producer Carmel Imrie has been reported to the corporate watchdog in her position as company director of production company Quirky Wars, following a report suggesting the company traded while insolvent.
David Michael Stimpson, of specialist accounting and advisory firm SV Partners, was appointed as administrator of the company last month, after it entered voluntary administration.
In a report to company’s creditors this week, seen by IF, a preliminary investigation from SV Partners found that Quirky Wars was likely trading while insolvent since at least June 30, 2024, when – concluding the “1st financial quarter after USA release” of Luke Sparke’s Bring Him To Me – it became liable to repay approximately $3.9 million in loans to external investors.
At the same time, the administrator notes the company had no assured means to raise the necessary funds to meet that liability, although it has stated that the dollar value of the insolvent trading claim is likely to be minimal.
Imrie now faces an ASIC report, after the administrator identified that several offences may have been committed under the Corporations Act, including a failure to prevent insolvent trading and a…