Diamond Exchange enters administration

5.1 k views | Posted October 27, 2010 | By Lorna Goodyer

Diamond Exchange has been put into administration after months of trading problems and disputes with dissatisfied customers.

Customers trying to get refunds were turned away at the doors of Diamond Exchange’s Melbourne office yesterday (October 26) and today, as they were told the company had gone into administration.

Liquidation and bankruptcy specialist Worrells confirmed that Con Kokkinos and Matthew Jess of Worrells had been appointed joint administrators for the company.

Kokkinos told Jeweller he was unable to comment on details of the administration.

JAA chief executive Ian Hadassin said the JAA had been inundated with calls from customers of Diamond Exchange this morning after hearing of the company collapse.

Diamond Exchange had been due to appear at the Victorian Supreme Court for a second time on November 5, where it was set to tell the court if it intended to defend the wind-up application that had been filed against it by a trade creditor.

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