Customers who lost millions when luxury caravan company Zone RV collapsed are demanding an investigation by the Australian Securities and Investments Commission (ASIC). The Sunshine Coast-based company entered administration in December, owing $42 million to creditors, and was later liquidated in January. About 140 customers are collectively owed more than $10 million, with some paying up to $160,000 in progress payments for caravans that were never built.
Liquidator Cor Cordis has accused former director David Biggar of multiple breaches of the Corporations Act, including continuing to trade while insolvent for up to two and a half years. Customers, led by Gold Coast resident Natasha Daley who lost $160,000, have submitted a joint complaint to ASIC. Daley described feeling 'disgusted and angry' and said retirement plans are on hold as she and her husband return to work to recover funds.
Federal Treasurer Jim Chalmers expressed sympathy for affected customers, noting the government is ensuring ASIC has resources to protect consumers. He highlighted the appointment of Sarah Court as ASIC chair in February, citing her enforcement track record. ASIC has declined to confirm whether it is investigating, but liquidators are considering civil litigation to recoup customer funds.
