NDP administrators have told unsecured creditors they could expect as little as five cents in the dollar, under a deed of company arrangement (DOCA).
NDP CREDITORS: NDP’s unsecured creditors include dairy farmers Alex Robertson, Donna Edge and Fiona Plant.
In a letter to unsecured creditors, joint and several administrators Salvatore Algeri and Glen Kanvesky said if NDP was declared insolvent, they could expect nothing, or just over a cent in the dollar.
Deloitte found the company had liabilities of $9.2 million, made up largely of $4.3m to unsecured creditors and a further $4.7m owed to former managing director, Tony Esposito, as an unsecured loan
Among those owed substantial amounts of money include Warrnambool Cheese and Butter (WCB), $…
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