One of Australia’s leading diesel systems specialists has entered administration, leaving hundreds of staff facing an uncertain future.
A total of 23 companies under the Cornell and MTQ Group entered voluntary administration late last month with unknown debts.
The most well-known trading entity, Cornell Diesel Systems, has been around for over 50 years, specialising in diesel fuel injection diagnostics, repair, aftermarket parts sales and service.
“Our strategically located branches serve regional and urban centres across diverse industries, including passenger vehicles, fleets, agriculture, mining, rail, marine, and power generation, with tailored solutions for both off-road and on-road needs,” their website states.
Cornell recently consolidated with other industry leader MTQ Engine Systems which was formerly known as Dynamic Turbochargers and has been operating in Australia since 1970. It was acquired by Bapcor – which takes in brands including Autobarn, Autopro, Opposite Lock, Midas, and Shock Shop – in 2016. Bapcor sold off MTQ in November last year to a buyer group led by Cornell management as part of its broader strategy to exit non-core assets.
“By bringing our highly skilled teams together, we’re enhancing our capabilities to deliver a more efficient, streamlined, and customer-focused one stop shop for all your diesel system and turbocharger needs,” their website reads.
The company has several branches across the country under the MTQ banner, in Adelaide, Brisbane, Melbourne, Perth and Sydney. They all appeared to be trading as normal after the announcement, although at deadline for this issue, Big Rigs was told by a source familiar with the operations that the Sunshine site in Melbourne had abruptly closed.
It’s not clear at this point what led to the administrators’ appointment, or how much the companies owe to creditors and employees.
Cornell Group CEO Devesh Mishra declined to comment further. Mishra was removed from the business on July 25.
As advised in the first creditors meeting, it was highlighted that funding provided to the company was unsustainable and had allegedly drowned the company in high-interest debt.
Another source familiar with the finance arrangement told Big Rigs that in July 2025, Mishra was told the default on the loan was inevitable.
“He then moved to place the group entities into voluntary administration to protect employee wages and customer commitments,” the insider said. “All available cash was transferred into a trust account to support wages.”
Big Rigs also understands that following the administration announcement, the receivers Worrells provided interim trade funding – approximately $3 million – with backing from Juel Solutions and Arcus Capital Advisory.
Cornell Diesel–MTQ is one of the largest diesel-service networks in the country, trusted by OEM passenger vehicle brands across Australia and heavy-duty freight fleets hauling everything from groceries to iron ore.
“A break-up sale of plant and inventory might satisfy secured creditors, but it would rip skilled technicians, calibration benches and nationwide parts logistics out of the market overnight, leaving a service vacuum no single business can fill,” our insider said.