The Australian Taxation Office (ATO) has taken a haircut on $2.11 million owed by the companies behind four of Surfers Paradises biggest nightclub and dining venues after accepting an offer of about 22.5c in the dollar for the debt.
The venues, owned by the Gold Coast-based Artesian Hospitality Corp, have been struggling for the past two years to repay mounting debts to the ATO in the aftermath of COVID lockdowns.
The ATO, the sole creditor to the four companies that operate Cali Beach, Havana RnB Nightclub, Tempo Nightclub and Surfers Pavilion, has accepted a payment of $475,670 for the $2.11 million debt to be paid in instalments over the next 12 months.
The move follows a restructuring proposal presented earlier this month to the ATO …
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