WEST Perth creditors can get back 4 per cent of what they are owed or get nothing.
That is essentially the message after administrator KordaMentha released its recommendations this week into the finances of the Joondalup WAFL club, which went into voluntary administration last month with about $790,000 debt.
It means if the Falcons owe a creditor $100,000, the entity would get just $4000 back.
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The four cents in the dollar proposal, which KordaMentha considered the best alternative, forms part of a deed of company arrangement put forward by the WA Football Commission.
The deed would a…
Read the full article at: https://www.communitynews.com.au/joondalup-times/sport/wafl-west-perth-creditors-told-to-see-cents-after-voluntary-adminstration-analysis