The creditor claim for embattled Ballarat windows and doors company Lontana Pty Ltd is set to run into the hundreds of thousands as more than 100 clients, suppliers and employers join the line-up to receive a cut.
A liquidation notice on the Ring Road warehouse which was used by Lontana and Ballarat Windows and Doors. Picture: Kate Healy
Documents provided to the Australian Securities and Investment Commission earlier this week identified 85 creditors waiting to be paid by Lontana, alongside a further 25 employees who are also owed.
The document listed Lontana at an estimated realisable value of less than $45,000, all of which stemmed from assets, with the company having no cash or money in the bank.
The company went into liquidation…
Read the full article at: http://www.thecourier.com.au/story/4996883/more-than-100-owed-by-embattled-ballarat-manufacturing-company/