ABC News – Australia
·australia
·9 hours ago
Liquidator finds Bluesfest may have traded while insolvent for months
Byron Bluesfest's liquidator found the iconic New South Wales music festival may have traded while insolvent for months before collapsing in March with over $10 million in debt. Unsecured creditors, mostly ticketholders and suppliers, will recover only 11 cents per dollar owed. The liquidator has reported founder Peter Noble to ASIC for potential breaches of directorial duties over unusual transactions.
Summary by OZbrief · ABC News – Australia
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