Earlier this week, on 30 November 2011, four of Nick Bolton’s Australian Style companies faced winding up application hearings in the Supreme Court of Victoria. As posted a few weeks ago, interestingly, the applicant was not the Deputy Commissioner of Taxation or any of the other parties those companies are reputed to have had disputes with recently. The applicant was As Staff Pty Ltd and the four companies the subject of the winding up applications were Bottle Domains Pty Ltd, Australian Style Group Pty Ltd, Australian Style IP Pty Ltd and ACN 102 378 316 Pty Ltd.
The winding up orders were not made. It is not yet known if the applications were dismissed or withdrawn or, more likely, adjourned for a hearing perhaps in a few weeks time. However what is clear from ASIC’s records is that the winding up orders were note made at the hearing.
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.
Perhaps Mr Bolton is managing to pull another unorthodox manouver, and wriggle out of a tight spot profitably somehow. Watch this space.