11th hour bid by ex-Virtical director to unwind ProvLiqs

Ex-Virtical Pty Ltd director Mark Toma will attempt to set aside court orders appointing receivers and provisional liquidators to entities linked to the besieged hospitality venture, which is being investigated by the ATO in regard to claims for more than $100 million in alleged improperly claimed GST refunds.

At 2:15pm today lawyers for Toma, who stepped down as a director of Virtical in November 2023, will apply in the Federal Court to have the appointments of BRI Ferrier principals Peter Krejci, Andrew Cummins, John Keenan as receivers and provisional liquidators (ProvLiqs) unwound.

For good measure Toma is also seeking to have orders for production and summonses issued to a range of individuals scheduled to be examined by the BRI four set aside.

Among the recipients of the examination summonses is Sam Peter Cassaniti, who is scheduled to attend our for public examination next week.

It was Cassaniti’s Cassaniti’s Accolade Advisory (now Capital Financial Advisory Pty Ltd) which referred Virtical to a small insolvency firm for winding up latest year.

That occurred in the wake of a series of audits conducted in 2024 after which Virtical was fined more than $27 million in respect of false GST claims.

Following the referral Rogers Carson Director Nic Raja was appointed liquidator of Virtical on October 16, 2024.

We’ll report on the outcome today’s proceedings next week. See today’s newsletter for more on Raja’s experience with referrals from Accolade.