Creditors of a collapsed company of which One Nation Senator Rod Culleton is a director, have no hope of getting their money back, the liquidator says.
The information is contained in a report to creditors of Elite Grains, written by PPB Advisory liquidator Jeff Herbert, and leaked to the ABC.
“There will not be a dividend to any class of creditor in this liquidation,” Mr Herbert’s report states.
“I am not aware of any other assets to realise or claims that can be commercially pursued to recover funds for creditors.”
The report estimates Elite Grains collapsed with debts of approximately $6.1 million.
The debt includes $4.3 million owed to the ANZ Bank and $…
Read the full article at: http://www.abc.net.au/news/2016-11-03/one-nation-senator-rod-culletons-creditors-no-chance-cash-back/7994312