Customers who lost millions of dollars when luxury caravan company Zone RV collapsed are calling for an investigation by the Australian Securities and Investments Commission (ASIC). The company, based on the Sunshine Coast, entered administration in December, owing $42 million to creditors including staff, suppliers, and customers. It was later liquidated in January, with a Melbourne-based rival purchasing its assets.
Approximately 140 customers are still owed more than $10 million in total, after paying up to $160,000 in progress payments for caravans that were never built. As unsecured creditors, they face losing their money entirely. Liquidator Cor Cordis has accused former director David Biggar of multiple breaches of the Corporations Act, including continuing to trade while insolvent for up to two and a half years.
Gold Coast resident Natasha Daley, who lost $160,000, represents about 70 customers collectively owed nearly $7 million. She submitted a joint request to ASIC for action, expressing disgust and anger over the consumer harm. Another customer, Eduard Planken from Perth, lost $154,000 and is supporting the campaign, urging ASIC to investigate to prevent similar cases from being overlooked.
Federal Treasurer Jim Chalmers expressed sympathy for the affected customers, noting that the government is ensuring ASIC has the resources and leadership to protect consumers. He highlighted the appointment of Sarah Court as ASIC's new chair in February, citing her strong enforcement record. ASIC has not confirmed whether it is investigating, but liquidators are considering civil litigation to recover customer funds.
