Failed fertiliser supplier Superfert Dongbu has entered liquidation, 18 months after it had been put into voluntary administration.
Business News reported last year that farmers and other unsecured creditors could expect 7 cents in the dollar in a deed of company arrangement in which the major secured creditor, Korean company Dongbu Farm Hannong, agreed to allow unsecured creditors get the first tranche of payments.
Unsecured creditors were returned around $800,000 when it was executed, or 8 cents in the dollar, while employees were returned around $400,000.
That Doca also included provisions to wind the Superfert up after that payment had been finalised, with Dongbu Farm Hannong expected to recieve about $900,000, or around 3 cents in the …
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