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Category: Education / Adult Education / Education Associations / Business, Economics and Finance / Educational Resources / Mining (Rural)

Liquidators called in over collapsed training company

Monday, 6 Jun 2016 08:09:51

Hundreds of students are affected by the collapse of CTM Training Solutions. (Supplied: CTM Training Solutions)

Liquidators are investigating the collapse of a national training company which has affected hundreds of students and 37 staff around the country.

CTM Training Solutions, which closed last month, has offices in Brisbane, Townsville, Cairns and Mackay.

The registered training organisation also has offices in New South Wales.

It provided training courses in mining, construction, hospitality, transport, and agriculture.

The company is being investigated by Dye and Co Insolvency Practitioners.

Liquidator Shane Deane said the company blamed the collapse on government overpayments for its mining courses.

"The director's reasons for failure and the reasons for winding up the company was a result of [the] Queensland Department of Education and Training claiming overpayments in the amount of $2.2 million," he said.

"That's the director's reasons, we've still got to investigate the company, its officers and come up with our own reasons for failure of the company."

Mr Deane said the Queensland Government had ceased payments.

"They've said that they weren't going to pay anything that was outstanding to the company and have raised a counter-claim for $2.2 million," he said.

"Once they're offset there's about $1.7 million outstanding to the Queensland Government."

Mr Deane said there was no chance of resurrecting the company.

"It ceased to trade prior to our appointment, we won't be recommencing the company whatsoever," he said.

Mr Deane said the students had been advised prior to the collapse to seek alternate training providers.

He believed there were no students who had been financially impacted.

"We haven't had a claim from a student yet," he said.

"If there is any students with claims, obviously we request that they contact our office."

Company being audited over contractual arrangements

Mr Deane said the investigation would be thorough.

"We're going through all the company records, investigating the affairs of the company, the conduct of its officers, any transactions which may be seen to be potentially recoverable," he said.

"If there's actionable claims we'll then commence to take those claims."

Mr Deane said the Queensland Government was the main creditor.

Employees of CTM Training Solutions are being dealt with under the Federal Government's fair entitlements scheme.

In a statement, the Department of Education and Training said the company was being audited for compliance with contractual agreements.

AustraliaPlus


 

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