Cairns Dive Centre passport feb mar 2008
Cairns Dive Centre passport feb mar 2008

Iconic NQ business owed more than $1m

ICONIC dive operation Cairns Dive Centre has filed for liquidation owing creditors more than $1m.

The company closed its doors in March last year following the sudden death of founder Peter Boundy in February 2020.

In a notice posted on the ASIC website late last year, Decretum Pty Ltd, trading as the Cairns Dive Centre, announced that the company would be wound up and John Goggin be appointed as liquidator.

Mr Boundy was listed as Decretum's sole director and one of two shareholders.

Peter Boundy at Trinity Inlet.
Peter Boundy at Trinity Inlet.


Mr Goggin filed the report to creditors which outlined an outstanding loan debt of more than $1.3m, a total list of liabilities amounting to $2.2m and overdrawn bank account balance of more than $169,000.

The company's total assets came close to $1m.

At the time of closing, Cairns Dive Centre manager Melynda Franstedt said the COVID-19 pandemic had taken its toll on the prominent dive business.

"We have survived natural disaster (and) company changes, but this pandemic has taken its toll on all of us," Ms Franstedt said.

Originally published as Iconic Cairns business owed more than $1m


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