Another Forum Group Business Doesn’t Have to Go to Waste

The widely reported ‘Forum Group’ whose director allegedly de-frauded major banks of over 400 million dollars will have the inventory of its last major business offered to market this week. Iugis Pty Ltd was the brainchild of former director Bill Papas.

Iugis was set to be a leading Australian Company in the relatively new Sustainable Waste Industry. At the time of the company being placed into liquidation last year the inventory that will now go to auction this week had a landed cost of nearly 14 million dollars.

The Iugis commercial food waste digesters are billed as environmentally friendly, eco based and sustainable, being an innovative food waste solution contributing to a sustainable society and cost reductions making this an ideal business opportunity.

“These machines are perfect for large supermarket chains, hotels, clubs, hospitals, nursing homes, restaurants and any companies that need to safely dispose of their food waste. This is an incredible business opportunity as the stock required is landed and ready to go, a lot of the hard work and current import constraints have been bypassed.” said Mr. Lee Hames, Chief Operations Officer for Lloyds Auctions.

On offer is over 800 lots consisting of commercial food waste digesters, skip bins, electric motors and much more in a 4-part auction spanning across 2 days.  In addition to this offering, there are a number Surfacide Heolis Systems which will be coming to market shortly.

The technology mimics a natural digestion process using micro-organisms to transform food waste into an environmentally safe liquid.

The auctions are currently online with the bidding set to close on Wednesday 25th May and Thursday 26th May.

You can view the first auction here or visit for more information.

Video footage of the items is available on request.

Matt Kalinski

Head Of Valuations

Qualifications & Affiliations

American Society of Appraisers Candidate Member

Certified Practicing Valuer AVAA


Matt has been in the valuations space for many years and has extensive experience in the space across an abundance of various industries. He now leads the valuations teams for Lloyds Auctions with a passion for encouraging his team to set and achieve high goals and produce great results for the company whilst growing the team’s skills starting with a great culture and team mindset.