Sierocki winds up company with $1.3 million in debts

SM Solvency Accountants director Jarrod Sierocki has appointed Sydney insolvency practitioner David Levi as liquidator of related entity SM Services (QLD) Pty Ltd, with Levi’s initial report to creditors disclosing debts of more than $1.3 million.

According to ASIC records SM Services (QLD), which is now known as ACN 630 295 091 Pty Ltd, was placed into liquidation via a resolution of its members on August 10, 2022.

The records also show that Sierocki is sole director of ACN 630 295 091 Pty Ltd and sole director and shareholder of parent company One World Equity Partners Pty Ltd.

Levi’s initial report to creditors dated August 16, 2022 discloses that the Australian Tax Office (ATO) is the largest unsecured creditor, claiming a debt of $791,739.00.

The report also records $270,055.00 in unpaid superannuation owing to priority creditors and $262,919.00 in related party debts comprising $245,919 owing to SM Solvency Accountants Pty Ltd and $17,000 owing to the company’s director, Sierocki.

In his Declaration of Independence, Relevant Relationships and Indemnities (DIRRI) Levi discloses that the winding up was referred to him by James Flaherty of Insolserve and that he required an indemnity payment of $11,000 to take the job.

As iNO reported earlier this year, Sierocki was forced to close SM Solvency Accountants after the untimely death of a key staff member and the impact of measures imposed to restrict the spread of COVID.

While SM Solvency Accountants has not been wound up its files were transferred to practitioners at Vincents.

No response to iNO’s enquiries was received from either Sierocki or his lawyer Liam McMahon by deadline. If replies are subsequently received the story will be updated.

Further reading:

Insolvency Guardian And SM Solvency Shut Up Shop