Big Un Australia
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
This record covers the same company as 'Big Un' in this batch: Big Un Limited (ASX: BIG), the Australian video-technology company founded in 2013 that sold $12,000 promotional 'TV show' packages to small businesses, financed through deferred payment via a $20 million arrangement with Sydney financier First Class Capital ('Finstro'). Worth up to $700 million in 2017, it was suspended in February 2018, delisted from the ASX in August 2018, and liquidated in 2019 after internal audits revealed an unsustainable loss-making operation with $50 million of hidden liabilities.
02 / Big Un Australia FAILURE REASONS
Failure reasons
Same root cause as documented for 'Big Un' in this batch: a circular revenue model (24% commissions paid to the financier lending to its own customers) that collapsed under scrutiny, $50 million of hidden liabilities, and a cascade of ASIC enforcement - the CEO (Richard Evans, formerly Evertz) pleaded guilty to communicating inside information (sentenced 2026), the CFO was charged, an investment analyst was convicted, and the auditor was convicted for failing to audit to standards. The company was liquidated in 2019.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
Liquidator Olvera Advisors states Big Un Limited was placed into administration on 24 August 2018 after ASX suspension (Feb 2018) and delisting (Aug 2018).
- Liquidation
Olvera Advisors states Big Un was placed into liquidation on 23 October 2019; Neil Cussen is liquidator. Group included trading subsidiary Big Review TV Limited (in liquidation).
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Same company as 'Big Un' in this batch: circular self-financed revenue, hidden liabilities, ASIC enforcement cascade.
- 02
See the 'Big Un' record for the full account and lessons.