AFTA chief executive Jayson Westbury says he is committed to uncovering the truth about the collapse of Excite Holidays, which has left many agents and their clients in limbo.
In an update posted on AFTA’s website earlier this week, Westbury acknowledged the difficult situation for affected agents, and said there are “many and very serious questions that must and will be asked going forward with this company”.
“While Excite was NOT an ATAS accredited entity, AFTA will ensure that due process is followed in finding out the truth,” he said.
Westbury noted the wholesaler’s behaviour of this company has been questionable in the months leading up to its collapse.
“And while agents have been left holding the pieces, it is good to note that many of the groups and other platforms are offering to help where they can,” he said.
“I do also note that as Excite was not ATAS-accredited, there is no cover from the ACS Scheme and I just hope that impacted agents have taken some form of business process that will allow them to alleviate some of the exposure to loss that I am sure many have now found themselves in.
“Certainly not the kick-off to the year that we were all hoping for, and let’s just say my hope is that things can now only get better for the year ahead.”
The first creditors meeting for Excite’s collapse will take place at Sydney’s Wesley Conference Centre on 22 January at 11am (AEDT). More info on the meeting can be found here.
The company handling Excite’s voluntary administration, KPMG, has also released answers to some of the frequently asked questions from agents, which can be accessed here.