Liquidators barred from luxury yacht builder’s books
Another one of Queensland's luxury yacht builders has gone bust after a dreadful year heavily impacted by the pandemic.
Marine Engineering Consultants Pty Ltd, trading as MEC Yachts, is now in the hands of court-appointed liquidator Chris Baskerville from insolvency mob Jirsch Sutherland.
The demise of the company, operated by founder and sole director Murray Owen follows a lengthy period of financial difficulties.
MEC settled a wind-up bid launched in June by an apprenticeship group but other alleged creditors piggybacked on to the legal action in an effort to get paid.
The company was also still fighting a separate court battle sparked by another alleged creditor late last year.
In a surprising twist, Baskerville told us that his team had been barred from entering MEC's Coomera office on Monday and he was now seeking legal remedies to gain access to the site.
He could not provide details about how much is owing to creditors.
Owen, who acknowledged earlier this year that a number of key contracts had been lost, did not return a call seeking comment.
Launched in 1992, MEC was based at the Gold Coast City Marina and also had outposts in Brisbane and Mackay.
Just five years ago it built the $5.5m Evolution catamaran, a 33m colossus.
Originally published as Liquidators barred from luxury yacht builder's books