Digging deeper into Salmon and Speck's affairs

Carenne Gate can reveal a number of issues with Carenne Support director Geoff Salmon's own company - Salmon and Speck Pty Ltd which is currently in administration after racking up millions of dollars in debt. After digging into the affairs of the company, Carenne Gate can reveal that Salmon may have breached his duty as a director and could be personally liable for debts of the company.

Carenne Gate can reveal that Salmon 'self-dealt' with the company, using it to pay for items for himself and hide them in the company's books, without the knowledge of his business partner Peter Speck.

These debts include:

Alert Monitoring Service for 335 Foleys Creek Road, Oberon	$223.95
Atherton Tableland for work done at 335 Foleys Creek Road, Oberon	$66,705.64
Clark Tanks for water tank installed at 335 Foleys Creek Road, Oberon	$6,544.00
Elgas for LPG service at 335 Foleys Creek Road, Oberon	$1,994.10
Integral Energy for electricity service at 335 Foleys Creek Road, Oberon	$7,871.59
Optus for mobile telephones used by Salmon	$13,891.68
Telstra for home telephone at 335 Foleys Creek Road, Oberon	$562.64
Wright Express for fuel cards issued to Geoffrey and Gillian Salmon	$13,029.27
Minimum amount misappropriated by Salmon:	$110,822.87

These are the amounts which are easily identifiable to have been self-dealt by Salmon. There may be more.

Of even more concern is that some of these debts have been outstanding since 2008, meaning that since that time Salmon has racked up more debt that he knew he couldn't pay. It's time that ASIC does a full and proper investigation into whether Salmon breached his duty as a director and if the company while insolvent.