Iconic brand Slush Puppie collapse could end in court
THE operators of ice drink brand Slush Puppie could be hauled before a court to find out how the company that ran the business for 23 years avoided a $60,000 debt to a former distributor.
Doggone Qld, which was previously called Slush Puppie, was placed into liquidation in February over the court-ordered debt to Robert McCallum, who is the company's sole unsecured creditor.
The Slush Puppie business and distribution rights were sold by the company to a new company before the liquidation.
The new company was then named Slush Puppie Pty Ltd and it continues to trade the popular ice drink from its Nerang depot.
Both companies have Nerang businessmen Frank and Murray Stafford as former or current directors and major shareholders.
Liquidator Stirling Horne said he would push for a public examination over revelations the Slush Puppie business and stock was transferred to the new company for less than 20 per cent of what it had been valued at after the company obtained a second, far lower, valuation.
He said if the creditor was unable to fund the examination, he would apply for assistance through corporate regulator ASIC's new Assetless Administration Fund.
Mr Horne said he had been unable to obtain the documents he required for his investigation.
"I am planning to do a public examination of all the people involved and to obtain subpoenas for the documents," Mr Horne said.
"There are some concerns that we have and we would certainly like to follow it through to the end.
"It's at a bit of a standstill - we've pushed as hard as we can so have to spend some money to go further with it."
The company's lawyer Richard Holt did not reply to the Bulletin's questions, however a post on Slush Puppie's facebook page addressed "incorrect media reports concerning Slush Puppie", saying the news outlets "have been asked to retract their comments".
"Slush Puppie continues to be a successful business in Australia and will continue to provide our world famous slushies to all Australians," it said.
Mr Holt has previously told the Bulletin the $60,000 court debt against Doggone Qld Pty Ltd, had "no connection with the Slush Puppie business".
Company records show the failed Doggone Qld traded as Slush Puppie for more than 23 years.
Former Slush Puppie distributor Mr McCallum, who's owed the debt, declined to comment.