A transport company and milk processors Warrnambool Cheese and Butter (WCB) and Tatura Milk are among unsecured creditors, owed money by failed Victorian broker, National Dairy Products.
NDP administrators have told unsecured creditors they could expect as little as five cents in the dollar, under a deed of company arrangement (DOCA).
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 thos…
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