Failed agency No Standing owes staff more than $280,000

Jason Pollock
By Jason Pollock | 26 June 2024
Photo by Ben White on Unsplash.

Digital marketing agency No Standing still owes a total of $280,434.73 to employees after the company went into liquidation, according to documents lodged with corporate regulator ASIC.

Employees designated as priority creditors have $52,925.33 in wages or salary owed; $42,990.32 in annual leave; and $155,127.55 in superannuation, according to the Report on Company Activities and Property prepared by liquidator Daniel Juratowitch of Cor Cordis.

Of the 17 employees listed as being owed funds, 10 are shown as "active".

Six are "terminated" with the end of employment dates going back to November 30 2023 for two staff and the most as recent as April 4 of this year.

The company also owes a total of $29,391.53 to Nethalie Karunaratne, the head of operations/human resources at the agency and the sister of Sohan Karunaratne, one of the co-founders of the company.

The company has a total of $16,055.55 in the bank, total current assets of $93,696.66 and total fixed assets of $133,466.23, according to the Report.

In the initial liquidator's report dated April 30, the company was found to be owing $2.271 million to unsecured creditors.

Another report prepared in June, but dated to May 1, the Aged Payables (pictured below) states that No Standing owes $152,297.78

This includes a number of debts still outstanding from the initial report, including to Allianz ($9,217.31), hammerjack pty ltd ($107,075.14), Intogreat Solutions P/L ($9,015.71), Similarweb ($6,997.18) and Twitter ($8,481.44).

No Standing Aged Payables May 2024

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