Townsville home loans company Platinum Business Services has been placed in liquidation.
Townsville home loans company Platinum Business Services has been placed in liquidation.

Home loan business goes under

A home loans company that previously operated in Townsville is being liquidated with creditors expected to be paid in full.

Platinum Business Services Pty Ltd, trading as Townsville Home Loans, was placed in liquidation in May through a creditor's voluntary winding up application.

Liquidators in the central Queensland division of Worrells Solvency & Forensic Accountants in Rockhampton are handling the matter.

Worrells central Queensland partner Michael Beck said the liquidation had been initiated by the bankruptcy trustee of the company's director, Patrick Edward Leach.

Mr Beck said the business, which had operated from offices in Flinders St, had not traded for some time with its most recent loan written in 2017.

"We have sold the company's trailing commission book and the funds (realised from the sale) should be sufficient to pay creditors in full," Mr Beck said.

"To date there are claims of $31,000."

Mr Beck said there may be further debts once tax lodgements were made but he expected creditors to still be paid in full. Mr Leach has more recently been a director of companies operating in Brisbane.

Originally published as Home loan business goes under


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