Key Takeaways
- Maverick Campers (trading as Fetch Business Solutions Pty Ltd) entered liquidation in early October 2026, with liabilities exceeding $6 million
- The collapse was triggered by a financier exercising its rights under a Personal Property Securities Act (PPSA) security interest, seizing all stock overnight
- Customers who paid deposits are likely to rank as unsecured creditors and face limited recovery unless they hold a specific statutory claim or consumer protection right
- Directors of capital-intensive businesses should treat this as a warning: a secured creditor can move to enforce in hours, not weeks
- Liquidators Jirsch Sutherland are investigating the company’s books, creditors should register their claims promptly
On approximately 2 October 2026, Maverick Campers, the Australian camper van manufacturer trading through Fetch Business Solutions Pty Ltd, entered liquidation, leaving dozens of customers without vehicles they had paid for and suppliers chasing unpaid invoices. Liquidators Yulia Petrenko and Malcolm Howell of Jirsch Sutherland have been appointed.
The collapse is the fourth in Australia’s caravan and camper van sector in less than 12 months, following Zone RV (wound up January 2026, $42M debt), Star Vision (liquidated July 2026), and Australian Off Road (voluntary administration September 2026, $9M debt). Maverick had showrooms in Adelaide, Brisbane, Perth and Melbourne.
If you are a customer who placed a deposit, a supplier owed money, a director watching this unfold, or a secured creditor reviewing your own exposure, this article explains your legal position and what you should do right now.
What Happened
Maverick Campers had been in business for almost a decade and operated showrooms across four Australian states, including Brisbane. The company ran into acute financial difficulty when a dispute with its principal financier escalated.
According to CEO Matthew Winen, the company received a phone call on a Wednesday morning informing it that all stock across Australia was being repossessed. Trucks arrived at the yards and the stock was seized. The company had no viable path to continue trading without its inventory.
This type of enforcement action is not arbitrary. It is the result of a financier exercising its rights under a registered security interest, most likely a general security agreement (GSA) registered on the Personal Property Securities Register (PPSR), over the company’s assets, including its stock in trade.
Jirsch Sutherland’s liquidators are now conducting investigations into the company’s books. Current estimates place the company’s liabilities at over $6 million, though that figure is subject to verification as creditor claims are assessed.
The PPSA, Why Stock Can Be Seized Overnight
The mechanism that allowed a financier to effectively end Maverick Campers’ trading in a single morning is the Personal Property Securities Act 2009 (Cth) (PPSA).
Under the PPSA, a lender who finances a company’s inventory can register a security interest over that inventory, and over all of the company’s other personal property, on the PPSR. If the company defaults on its loan obligations, the secured creditor has the right to enforce that security interest, including by seizing and selling the collateral.
For businesses that depend on financed stock, caravan manufacturers, equipment suppliers, vehicle dealers, hospitality fitout companies, the practical reality of a PPSA enforcement action is brutal:
- The financier can act unilaterally, without court approval, once a default occurs
- Enforcement can happen in hours
- Once the stock is gone, trading typically becomes impossible
- Unsecured creditors, including customer depositors, sit behind the secured creditor in the recovery waterfall
This is not a unique scenario. It is how PPSA-secured finance is designed to work. But many business directors do not fully appreciate the speed and finality of a secured creditor enforcement action until it happens to them.
What This Means for Maverick Campers Customers
If you paid a deposit for a camper van or caravan from Maverick Campers and have not taken delivery, your position is as follows:
You Are an Unsecured Creditor
Unless you have a specific statutory protection (see below), a customer who paid a deposit for goods not yet delivered is treated as an unsecured creditor in the liquidation. In the creditor waterfall, unsecured creditors rank last, behind secured creditors (the financier), liquidator costs, and employee entitlements. In a liquidation where a secured creditor has swept the primary assets (the stock), unsecured creditors commonly receive little to nothing.
Australian Consumer Law Protections
If you paid by credit card, you may have a chargeback right under your card’s terms. Contact your bank or card provider immediately and ask about initiating a chargeback for goods not received. This is one of the most practical recovery paths for individual consumers.
Under the Australian Consumer Law (ACL, Schedule 2 to the Competition and Consumer Act 2010 (Cth)), if goods were substantially different from those described or were not delivered, you may have statutory remedies, but enforcing these against a company in liquidation requires the liquidator’s cooperation or an application to court.
Lodge a Proof of Debt
Regardless of what recovery you expect, lodge a formal proof of debt with Jirsch Sutherland. This registers your claim in the liquidation and entitles you to receive any distribution if funds are available after secured and priority creditors are paid. The liquidators will issue a proof of debt form.
Attend the Creditors Meeting
As an unsecured creditor, you have the right under the Corporations Act 2001 (Cth) to attend creditors’ meetings, ask questions of the liquidator, vote on resolutions, and receive the liquidator’s report on the company’s affairs, including the reasons for its failure. Exercise these rights.
What This Means for Directors of Capital-Intensive Businesses
If you are a director facing personal liability exposure from a company collapse, Boss Lawyers\’ director disputes lawyers can advise on your obligations and options.
The Maverick Campers collapse is a case study that every director of a capital-intensive, stock-heavy business should read carefully.
Understand Your Secured Creditor’s Rights Before You Need To
If your business is financed through a GSA or stock-finance facility, your lender almost certainly holds a registered PPSA security interest over some or all of your assets. Know what events constitute a default under your facility, what the cure period is, what enforcement rights your lender holds in practice, and whether your trading is viable without your financed assets.
The Solvency Warning Signs
A business can be insolvent under section 95A of the Corporations Act 2001 (Cth), unable to pay its debts as and when they fall due, well before a creditor enforces. The warning signs in capital-intensive businesses include defaulting on facility repayments, renegotiating debt terms under financial pressure, stock levels declining without corresponding debt repayment, increasing creditor ageing (unpaid suppliers stretching out), and ATO debt accumulating across GST, PAYG, and superannuation obligations.
Under section 588G of the Corporations Act 2001 (Cth), a director who allows a company to incur debts when it is insolvent, or when there are reasonable grounds to suspect insolvency, can be held personally liable for those debts. The personal liability exposure is real and regularly enforced by liquidators. For a detailed explanation of how insolvent trading liability works, including the defences available to directors, see our dedicated insolvency resources.
The Safe Harbour, Available Only If You Act Early
Section 588GA of the Corporations Act 2001 (Cth) provides a “safe harbour” defence to insolvent trading liability for directors who are genuinely pursuing a course of action reasonably likely to lead to a better outcome for the company than immediate administration or liquidation. The safe harbour requires, at minimum, that the company is paying employee entitlements and tax obligations, that the director has obtained advice from a suitably qualified adviser, and that a genuine restructuring plan is being developed and implemented. Safe harbour does not protect passive inaction. If your business is in financial distress, the time to access safe harbour protection is before your secured creditor moves, not after the trucks arrive.
For creditors seeking to understand their rights when a company enters voluntary administration, or who need to pursue a debt owed by a company that has collapsed, our debt recovery team can advise on your options.
Lessons and Action Points
For Customers and Creditors
- Credit card chargeback, immediate. If you paid by card, contact your bank today. Most chargebacks have a time limit (typically 120 days from the transaction date).
- Lodge a proof of debt. Contact Jirsch Sutherland and lodge your claim formally. Do not wait.
- Attend the creditors meeting. You have the right to ask questions and vote. The liquidator’s initial report will explain the company’s financial position and the likely return to creditors.
- Seek legal advice if your deposit is substantial. If you are owed a significant amount, a commercial lawyer can advise on whether additional remedies are available under the ACL or any specific statutory scheme.
For Directors and Business Owners
- Search the PPSR for your own company today. Know what security interests are registered against your assets and by whom.
- Read your facility agreements. Know what constitutes a default event and what enforcement rights your lender holds.
- Recognise insolvency warning signs early. If your business is showing signs of financial distress, act while you have options.
- Access safe harbour proactively. Section 588GA protection is not automatic. It requires active engagement with a restructuring plan and professional advice.
- Get advice early. A conversation with a commercial insolvency lawyer in the early stages of financial distress can prevent months of personal liability exposure.
How Boss Lawyers Can Help
Boss Lawyers regularly act for creditors pursuing recoveries in liquidation, directors facing insolvent trading claims, and businesses navigating the early stages of financial distress. Whether you are a Maverick Campers customer trying to understand your legal position, a supplier owed money, or a director whose own business is facing similar pressures, we can give you direct, practical advice.
For strategic commercial legal advice, call Mark Harley on 1300 267 711 or contact us online.
Frequently Asked Questions
Can Maverick Campers customers get a refund on their deposits?
Recovery depends on how you paid and the available assets in the liquidation. Customers who paid by credit card should immediately explore a chargeback with their bank. Otherwise, customers who paid deposits rank as unsecured creditors in the liquidation, behind secured creditors, liquidator costs, and employee entitlements. In liquidations where a secured creditor has enforced over the company’s main assets, unsecured creditors typically receive little or nothing. Lodging a proof of debt with the liquidators (Jirsch Sutherland) is the first step to registering your claim.
What is a PPSA security interest and why did it cause the collapse?
Under the Personal Property Securities Act 2009 (Cth), a lender can register a security interest over a company’s assets, including its stock in trade, on the Personal Property Securities Register (PPSR). If the company defaults on its loan, the secured creditor has the right to seize and sell those assets without court approval. In Maverick Campers’ case, the financier exercised that right by seizing all stock across the country. Without its inventory, the company could not trade and had no choice but to enter liquidation.
Can directors be personally liable for the debts of Maverick Campers?
Liquidators are required to investigate and report to ASIC on the company’s affairs, including whether there are grounds to pursue directors for insolvent trading under section 588G of the Corporations Act 2001 (Cth). If directors allowed the company to incur debts when there were reasonable grounds to suspect insolvency, they can be held personally liable for those debts. Whether this applies in Maverick Campers’ case will depend on the liquidators’ investigation, the outcome of which will be reported at creditors meetings and in the liquidators’ formal report to creditors.
This is general information only and is not legal advice. You should obtain professional advice specific to your circumstances. The law is stated as at October 2026.
Mark Harley
Principal Solicitor, Boss Lawyers
17+ years commercial litigation and insolvency experience
1300 267 711 | bosslawyers.com.au
Brisbane CBD, Brisbane QLD 4000
