PBS Building company reports show debts owed to Tax Office and Canberra business

PBS Building directors Ian Carter and Adam Moore have filed a series of company reports to ASIC as part of investigations into their five collapsed businesses.

The Canberra-based directors called in administrators for the construction companies, which operate in the ACT, NSW and Queensland, on March 7.

Together, the five companies owe about $63 million to hundreds of creditors.

The documents, known as reports on company activities and property, show the exact amounts the PBS companies owed to each business on its books and additional details on how overdue each payment is.

At March 7, one of the companies, PBS Building (ACT) Pty Ltd, owed nearly $16 million to hundreds of businesses, the reports show.

Among the largest debts was $649,481 owed to a formwork company, $493,630 owed to a roofing contractor, $515,135 owed to a kitchen supplier and $415,773 owed to an elevator company.

Similar reports have been provided for PBS Building (NSW) Pty Ltd and PBS Building (QLD) Pty Ltd. PBS Building Pty Ltd did not have any creditors listed.

The largest amount owed by PBS Management Company Pty Ltd was $1.1 million to the Tax Office, according to the company's internal report.

A further $402,408 was owed to a creditor named Amex - PBS Property Group and $239,117 to a Sydney-based financial institution.

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RSM Australia partner Jonathon Colbran is the administrator for the five PBS companies.

He said PBS Building's directors were given an extension until March 31 to submit the reports.

"The extension was given due to the size and complexity of PBS' business operations," Mr Colbran said.

"The administrators are using these reports along with our own detailed analysis of PBS company records to inform our investigations, which will conclude with a final report to creditors and recommendations on the future of the companies."

In early April, the administrators were granted more time by the Federal Court of Australia to complete investigations.

They now have until June 30 to lodge the final creditors' report and until July 7 to hold the second creditors' meeting, when the future of the companies will be determined.

At the time of the court judgement, a total 451 claims had been lodged by creditors in the ACT, NSW and Queensland.

Mr Colbran said this number may change as claims were assessed and verified.

The total amount of the claims was more than $63.6 million, court documents showed.

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