MACKAY Goodwin's Domenic Calabretta has told SiN he had no idea ASIC was investigating the administration of 3D Group Pty Ltd, a Victorian-based 3D printing technology outfit.
Currently overseas, Calabretta expressed surprise when told that 3D Group - which he controlled first as voluntary administrator and then as administrator of a Deed of Company Arrangement (DoCA) - was being investigated by an ASIC specialist stakeholder team.
"In regards to the alleged ASIC investigation ... I have not been made aware of such investigation," Calabretta said.
"The creditors in 3D have been paid out 100 cents in the dollar. The reason the creditors were paid so high was due to a successful Deed of Company Arrangement and subsequent Creditors Trust.
"The alternative for creditors would have been a return between 0 and 9 cents in the dollar, which would have been catastrophic for the creditors - hence the formal restructure conducted by Mackay Goodwin provided an excellent result," Calabretta said.
ASIC refused to comment when contacted on the basis that it never comments on "operational matters".
SiN is aware that ASIC has been looking at 3D Group since last year but it is not known if it has concluded its investigations or if it has made any findings.
Currently overseas, Calabretta expressed surprise when told that 3D Group - which he controlled first as voluntary administrator and then as administrator of a Deed of Company Arrangement (DoCA) - was being investigated by an ASIC specialist stakeholder team.
"In regards to the alleged ASIC investigation ... I have not been made aware of such investigation," Calabretta said.
"The creditors in 3D have been paid out 100 cents in the dollar. The reason the creditors were paid so high was due to a successful Deed of Company Arrangement and subsequent Creditors Trust.
"The alternative for creditors would have been a return between 0 and 9 cents in the dollar, which would have been catastrophic for the creditors - hence the formal restructure conducted by Mackay Goodwin provided an excellent result," Calabretta said.
ASIC refused to comment when contacted on the basis that it never comments on "operational matters".
SiN is aware that ASIC has been looking at 3D Group since last year but it is not known if it has concluded its investigations or if it has made any findings.