In less than 2 weeks, on 30 November 2011, four of Nick Bolton’s Australian Style companies face winding up application hearings in the Supreme Court of Victoria. Interestingly, the applicant is not the Deputy Commissioner of Taxation or any of the other parties those companies are reputed to have had disputes with recently. The applicant is As Staff Pty Ltd and the four companies the subject of the winding up applications are Bottle Domains Pty Ltd, Australian Style Group Pty Ltd, Australian Style IP Pty Ltd and ACN 102 378 316 Pty Ltd.
For those of you who cannot recall where they have heard the name before, Nick Bolton is the young Melbourne entrepreneur who raked in a tidy $4.5m in 2009 by investing in BrisConnections, trying to have the company wound up, and then selling his voting rights.
It will be interesting to see if winding up orders are made on the first return date. Perhaps Mr Bolton will manage to pull another unorthodox manouver, and wriggle out of a tight spot profitably somehow. Watch this space.