UPDATE: $17K down the drain as company goes bust

Cleaner Lisa McDade is angry that she won't see any of the $17,000 owed to her by the previous owners of LBS Accounting. Photo Paul Braven / The Observer
Cleaner Lisa McDade is angry that she won't see any of the $17,000 owed to her by the previous owners of LBS Accounting. Photo Paul Braven / The Observer Paul Braven

UPDATE October 6:

LISA McDade of Domestic Bliss Solutions has virtually given up on ever seeing the $17,000 she is owed by the former owners of LBS Accountants, Talos Accounting Group.

Almost a month on from our previous story, she said the last contact she had from Talos was from Bob Hughes, who told her not to bother calling him.

"I guess it's one of those things you chalk up to experience," she said.

"I know I am on the list of creditors to get paid, but it's obvious that there is no money, so I'm not holding my breath."


LISA McDade will fight to wrest the $17,000 she is owed from failed accounting firm Talos Accounting Group.

The single working mum and owner of Gladstone cleaning firm Domestic Bliss Total Solutions is just one of the creditors likely to miss out on being paid following the liquidation of Talos Accounting Group, the company that owned LBS Accountants until recently.

Ms McDade has been the cleaner at LBS long before the company was bought by Talos in 2013. But she says the payment problems only started after the business was sold.

"I wasn't getting paid and it was only about five or six months ago I realised that things weren't good, and I started to put pressure on Talos to be paid," she said.

"I am in a difficult position because not only am I the cleaner - LBS is my accountant - so it was a bit embarrassing asking for the money I was owed."

She said she was fobbed off by the company time and time again with a variety of stories; right up to the time of the liquidation on August 11.

"When I first started hassling them, Bob Hughes, who was my manager, told me it would be all sorted soon after the end of the financial year. That day came and went and there was no sign of any money."

Eighteen months ago it was Milan Versic that sold LBS to Talos; leaving some funds in the business and retaining ownership of the Auckland St building.

But he too has lost out - not only with the remainder of the purchase price, but also in lost rent, although he didn't say how much.

Mr Versic continued to work for the company after selling the business to a company that appears to have ties with a former bankrupt New Zealand businessman involved in one of that country's major financial collapses.

After Talos started missing payments for buying the business, Mr Versic and his partner stopped working for them.

"Then we did more research and lo and behold Mark Ryan (the Talos representative they dealt with) is Mark Bryers," Mr Versic said. "He was the head honcho; the man we would report to."

Mark Bryers was the co-founder of New Zealand's 2008 failed Blue Chip property investment scheme that left more than 2000 investors with losses of more than $310 million at the time.

Mr Bryers' bankruptcy has been lifted but he is still banned from managing or directing a company for seven years.

"The plans were to grow to 100 firms Australia-wide and float it on the stock exchange," Mr Versic said.

"We met him a few times in Gladstone and he was in charge of the direction the firm was going."

On August 11 they were going to evict the Talos Group from the office but the company had already left.

He said he was still owed one-third of the sale price of the business.

Talos Group's liquidator, BRI Ferrier manager Alan Tang, said creditors like Mr Versic who had debts from before August 11 would not see a return; everything the company has will go to the banks.

"The director, Stephen Lacy, has provided a number of personal guarantees and he will go bankrupt in the near future. He has put family home on the line," he said.

"Creditors are going to have to write off their debts and move on."

Topics:  bankruptcy lbs accountants liquidation talos accounting group

'F*** off dogs': Crash survivor strikes paramedic

PARMEDIC HIT: Bonnie Brodie assaulted a paramedic called to a crash scene to help her.

Car crash survivor hits paramedic, kicks cop, gets jail - suspended.

Tourism boost with 'hundreds' flocking to Gladstone's CBD

Tannum Sands treasure Maree McLelvie, Gladstone president Hether Wieland and Gladstone vice president Pat Van Bergen with artwork donater by Sue Daw which is just one of the items on auction at next weeks QCWA conference.

More than 300 people will flock to Gladstone next week.

Local Partners

'Best markets yet': Big sales at CBD markets: Photos

THE smell of fresh flowers, fruit and vegetables waft through the Gladstone CBD for the second City Farmer's Markets today.

Your chance to win

Learn More

Former Split Enz front man Tim Finn finds new niche

Singer Tim Finn has written the music for theatre production Ladies in Black.

Musician finds his way to theatre

Barry Gibb is coming to Bluesfest 2017

FANS: Barry Gibb talks to a fan next to a cardboard cutout of his young self.

Aged 70, Gibb has re-launched his solo music career with a new album

Tim Finn headlining at Airlie Beach Music Festival

Music veteran Tim Finn from New Zealand will headline the Airlie Beach Music Festival.

Tim Finn: "It's the kind of festival that artists love"

Azealia Banks won't take legal action against Russell Crowe

Rapper Azealia Banks

Rapper drops legal action against Russell Crowe

Brad Pitt meets with his kids amid divorce proceedings

Actor Brad Pitt

Brad Pitt has met up with his oldest son Maddox

Pictures of Taylor Swift allegedly being groped are sealed

They could "complicate jury selection".

Bruce Springsteen finds therapy useful

Singer Bruce Springsteen

Singer encourages others to seek help

Kerry Washington wants one more child

Kerry Washington recently gave birth to her second child

Kerry has only just become a new mum again

TRAVEL: Musicals light up Sydney

David Campbell performs in Dream Lover.

We take a trip through one of Sydney's finer scenes

Hit songwriter's Noosa mansion on market

SPECIAL PLACE: The Cintamani estate is going to tender, marketed by Tom Offermann Real Estate.

Is this Queensland's best property?

Kiwi siblings snap up Dotcom mansion for $32.5m

The new toy company owners of the Coatesville mansion want replace any controversy with positivity and fun. Photo / Barfoot and Thompson

The trio paid $32.5 million for the property in June

Push to sell homes that flooded Gladstone's market

Suburban housing in Glenvale, Toowoomba, Friday, October 17, 2014. Photo Kevin Farmer / The Chronicle

URGENT push to cash-up first home buyers investing in Gladstone.

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

What our mayor thinks of the new draft SEQPlan

The plan to use the innovative technology as part of the new Maroochydore CBD was cemented on site today when Mayor Mark Jamieson and Envac Asia Region president Chun Yong Ha formally signed the contract for the $20 million underground waste collection system.

New plan accommodates Sunshine Coast Council's vision for growth.