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Impact of Qamvis liquidation 'unclear'

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Liquidators say it is not yet clear whether there will be a return to unsecured creditors following the collapse of construction-focused insurance group Qamvis.

As insuranceNEWS.com.au has reported, Qamvis operated agency Qiducia Underwriting Australia and brokerage Qtrust Insurance & Advisory, both of which sourced capacity from Guild Insurance.

On June 18 Melbourne-based Qamvis was placed into liquidation, with Glenn Franklin and Paul Allen of PKF Melbourne appointed liquidators.

PKF says that shortly before the appointment of liquidators, Guild issued a default notice “in respect of funds owed in relation to policies”.

“Accordingly, Qamvis and its businesses ceased to trade and Qamvis was placed into liquidation.”

PKF says it is “uncertain” whether there will be any return to unsecured creditors. However, all employee entitlements were paid in full apart from a small portion of superannuation.

“As part of the liquidation process the liquidators will be investigating the company’s affairs with a view to recovering property for the benefit of unsecured creditors,” PKF says.