Monday, August 12, 2019

Chinese mining magnate Sally Zou claims her own company, AusGold, owes her $35 million

Chinese mining magnate Sally Zou claims her own company, AusGold, owes her $35 million

Aug 12 2019 
a woman wearing sunglasses taking a selfie: Mining magnate Sally Zou has placed AusGold into administration. (Supplied)
Chinese businesswoman Sally Zou has placed her insolvent company, AusGold Mining, into voluntary administration — and is claiming it owes her $35 million.
AusGold owes creditors more than $41 million in total, with the Australian Tax Office owed about $900,000 and 14 employees owed about $430,000, administrator John Vouris of Hall Chadwick said.
But he said Ms Zou will have to provide a Proof of Debt to substantiate her claim.
"I expect employees will be paid in full," he said.
Mr Vouris said the Fair Work Ombudsman was involved given the employees were claiming they were underpaid.
A meeting with creditors has been scheduled for August 19.
Ms Zou is the sole shareholder and director of AusGold Mining.
Earlier this year, the NSW Resource Regulator released a report into problems at AusGold's Good Friday Gold Mine, about 380km north of Sydney, including the illegal construction of a dam and the deaths of more than 25 kangaroos at the site.
Ms Zou is a Liberal Party donor, and attracted attention in the lead up to the 2018 South Australian election over a tweet promising more than $1 million to Premier Steven Marshall, a donation that never eventuated.
She was the subject of debate in Federal Parliament after it was revealed she had set up an organisation called the Julie Bishop Glorious Foundation, an organisation the former foreign minister said she had never heard of.
Ms Zou has also courted controversy over her business dealings, with revelations late last year that 11 employees from the mine were taking legal action over pay.
Earlier on Monday, some cryptic posts appeared on Ms Zou's Twitter page
"I believe the sun after the storm, Please don't forget, the heaviest rain comes out of the darkest clouds," read one.
"Thank the past for a better future," read another.
Victorian company Delta Rent Pty Ltd has lodged a winding up application against AusGold in the Victorian Supreme Court.

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