Former Australian fast bowler Brett Lee’s sydney Beer Co company owes nearly $10m to suppliers, documents show.
Minutes of the first creditor meeting filed with the Australian Securities and Investments Commission show the beer company owed $9.76m to 64 creditors.
The amounts include $1.3m to the tax office and $33,000 to former teammate Glenn McGrath’s charitable organisation the Jane McGrath foundation, which helps cancer nurses deliver services across Australia.
Sydney Beer Co, co owned by the fast bowler with actor Matt Nable, was sent into administration in early March, just months after announcing a $6m capital raise for its US expansion plans.
An entity operated by Sydney Beer Co chair David Catterrall is the biggest creditor, owed a little more than $6.2m via a related party loan.
RSM Australia partners Richard Stone and Brett Lord were appointed as administrators, with the first meeting with creditors on March 19.
Mr Lord said Sydney Beer Co directors had indicated they would put forward a deed of company arrangement proposal.
“In liquidation process there is unlikely to be sufficient assets realisations available to pay to any class of creditor in full,” he said.
“The administrators will continue with further…
