The property buying agency Dashdot has entered liquidation, with a preliminary report from Teneo liquidator Rebecca Gill revealing the firm collapsed with more than $16.5 million in outstanding debt. The company, which ceased operations last month, reportedly had only $749 in available cash at the time of the liquidation.
According to the report, 695 customers are owed a collective $10.6 million for prepaid services and pending refunds. Additionally, 43 former employees are seeking over $1.1 million in unpaid entitlements. Other major creditors include the Australian Taxation Office, which is owed $916,000, and lender Mighty Partners, with a debt of $1.5 million.
The liquidator is currently investigating the company’s financial structure, including a $1.4 million debt linked to G Squared Holdings, an offshore entity in the British Virgin Islands. Founders Glenn McGrath and Gabi Billing transferred their ownership stakes to this entity in 2024, a move that has drawn scrutiny from creditors. Co-founder McGrath has previously denied any wrongdoing, citing personal lifestyle factors for the transfer.