Federal Police raid office of embattled Vailo lighting business
The Australian Federal Police are reported to raider the offices of troubled sports lighting manufacture Vailo in relation to debts owed by estate of bankrupt company founder Aaron Hickmann.
Among a range of debts to financial institutions, Hickmann’s estate is reported to owe the Australian Taxation Office (ATO) an alleged total of $135 million.
Documents show the ATO lodged a ‘proof of claim’ seeking almost $135 million from Hickmann’s estate earlier this month.
With the estate’s Trustee expected to assess that application it is not clear what comprises the figure of $134,824,107 cited in the documents as the ATO’s claim against the estate.
In response, Adelaide’s The Advertiser has quoted Hickmann as stating “there is no claim of such a ridiculous amount, it is not even feasible.”
The Federal Circuit Court in Adelaide last month declared Hickmann bankrupt after he failed to repay an almost $600,000 loan to Marlbury Capital Lending Services.
Hickmann was named South Australia's top young entrepreneur in the annual 40 Under 40 awards run by InDaily in 2021.
Image: Vailo installation at Adelaide's Norwood Oval. Credit: Vailo.
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