Nicols + Brien Business Recovery
Nicols + Brien Business Recovery
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Update: 16 April 2025

 By way of update, we are pleased to advise that we will be sending out certificates for an “Interim” dividend distribution over the next few days. 


Instead of waiting for the Australian Taxation Office, I approached the Federal Court to amend the Settlement Scheme to allow me to pay an interim dividend.


During the next few days, we will be focusing on sending out the certificates. Please withhold any phone calls/emails during this time so we can complete the distribution of 1,400 certificates as soon as possible.


Under the Scheme, there is a 14 day waiting period after the certificates have been sent out, before the payments can commence.


The amounts on the interim certificate will be different to the preliminary certificates because the respective pools of admitted claims changed after the checking and reviews took place.


There will be a smaller dividend to follow for the remaining $2.7 million in the Scheme when the Australian Taxation Office finalises the assessment of the 2025 Tax Return I lodged.

Update: 24 March 2025

  

By way of update, we wish to advise that the Australian Taxation Office has not provided this office with a final Tax Assessment on the interest earned on invested funds. I have engaged the services of a Firm of Tax Experts to explore ways to speed up the process. The matter is complex. Normally Tax Returns are lodged at the end of the financial year, ie after 30 June 2025. I have, instead of waiting, lodged a paper return.


However, the Australian Taxation office has slow and automated processes, which we are trying to override by manual intervention, to speed up the process. As Administrator I am required to comply with Taxation Laws. I am also aware that the Australian Taxation Office automated process has produced incorrect results, for example seeking a significant sum of money for an automated PAYG quarterly instalment based on the full year 2024 figures. The Australian Taxation Office error is in excess of $1 million and requires manual intervention to correct same. My Tax Advisers are pressing the Australian Taxation Office to correct that error, and finalise the Tax Assessment for 2025 forthwith.

Update: 10 February 2025

By way of update, we wish to advise that firstly not all claimants have provided this office with their bank account details. We are writing to them to chase them up. Secondly we advise that the Australian Taxation Office has not provided this office with a final Tax Assessment on the interest earned. When these two matters are completed we will provide another update.

Update: 19 November 2024

Please complete the Form below to confirm your bank account details in preparation for payments to be made. Please email the Form and all documents to 711@nicolsandbrien.net with your company name and store number in the subject line.


Due to a high volume of calls we request that you email us with any further enquiries with your company name and store number in the subject line.

Payment of Your Claim Form (docx)

Download

Eligibility to participate in the 7-Eleven Settlement Scheme

Eligible Group Members in Class Action VID 180/2018 are Franchisees who:

  • at any time between 20 February 2012 and 19 February 2018 (the Relevant Period) were or commenced to be franchisee parties (Franchisee) to a standard-form franchise agreement (Franchise Agreement) with 7-Eleven Stores Pty Ltd (7-Eleven);

AND:

  • have not opted out of Class Action VID180/2018.

Eligible Group Members in VID182/2018 are Nominated Directors and/or Guarantors as follows:

  • Nominated Directors who were or commenced to be the nominated directors identified in a Franchise Agreement with 7-Eleven at any time during the Relevant Period; or


  • Guarantors who provided indemnities, guarantees, mortgages or other securities (Guarantees) in respect of a Franchisee’s obligations under a Franchise Agreement or ANZ Bank Loan Contract entered into by a Franchisee during the Relevant Period, and which Guarantee was extant during the Relevant Period.

AND:

  •  have not opted out of Class Action VID182/2018. 

About Us

Welcome to Nicols + Brien - Chartered Accountants

Nicols + Brien is a specialised Business Recovery and Insolvency Practice formed in October 1998.


The practice concentrates its efforts on assisting other professionals and business advisers to provide practical, meaningful and cost effective solutions to their clients’ Insolvency problems.   


We provide straightforward and relevant information to business owners and individuals facing financial trouble. This enables them to make informed decisions as to how to 

resolve the issues at hand.  


We have found over the years that by providing such information and knowledge early to our clients, they can choose the correct course of action to suit their own individual situation. This will inevitably result in a better outcome than otherwise would be the case.  


The senior members of Nicols + Brien have over 38 years of experience in dealing with insolvency issues and advising and helping clients resolve them. As fully qualified practitioners, we can assist by providing practical, no-nonsense advice and take on the full range of appointments in Australia.  


We pride ourselves on being available at short notice to travel wherever the situation demands. 

Initial consultation to discuss the issues are at no cost.

Contact Us

Contact Us

Nicols and Brien Business Recovery Pty Ltd

PO Box Q191

QVB Post Shop

Sydney NSW 1230

 Australia   


Phone: +61 2 9299 2289  

Fax: +61 2 9299 2239

   

Email: 711@nicolsandbrien.net

Copyright © 2023 Nicols and Brien Business Recovery Pty Ltd - All Rights Reserved.

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