Liquidators for STA Travel Group have confirmed that creditors of the now-defunct agency network will not receive a cent by way of a return.
The group made up of STA Travel Pty Ltd, STA Travel Academic Pty Ltd and IEP Pty Ltd collapsed in August last year after its parent companyfiled for insolvency, before being placed into liquidation.
In their statutory report to creditors late last year, STA Travels administrators and liquidators revealed there were insufficient realisable assets to enable payment of a dividend to unsecured priority creditors, unsecured creditors and customers of the company.
According to the team at Deloitte, 180 employees had claims against STA Travel totalling $3.02 million, while the claims by more than 37,000…
Read the full article at: https://www.travelweekly.com.au/article/no-dice-for-sta-travel-creditors-but-hope-remains-for-customers/