Private lender Archibald Capital faces wind-up after ATO lodges tax default notice
Private credit lender Archibald Capital faces being wound up after failing to pay AUD$715,306 (approximately £344,000) in tax.
The Australian Taxation Office (ATO) has applied to the Federal Court of Australia to wind up the lending group, according to The Australian Financial Review.
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The ATO lodged a tax default notice on Archibald Capital in November, which it updated in May this year for $715,306 worth of outstanding tax payments, according to corporate filings.
The ATO can report a business’s tax debt when taxes of more than $100,000 are overdue by more than 90 days and the taxpayer is not engaging with the ATO to manage the debt.
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Archibald Capital specialises in opportunistic credit and special situations across Australia and New Zealand, its website states.
Co-founder Ben Madsen has applied to the Federal Court of Australia to set aside a bankruptcy notice served on him by another private credit lender.
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Alternative Credit Investor has contacted Archibald Capital for further comment.
