Receiver says Cannasouth heading for liquidation, owes $2.5m to noteholders

Cannasouth’s secured noteholders have continued to fund the subsidiaries. (Image: Supplied)

Tue, 29 Jul 2025

Cannasouth’s receiver expects the company to be liquidated once the receivership process is over.Kevin Davies, of Principle Insolvency, was appointed receiver of the company on May 22, a year after the company went into voluntary administration.The first receiver’s report, released on the Companies Office on Tuesday, said holders of a general security agreement (GSA) over the company's assets were owed $2.53 million.Unsecured creditors were owed a further $109,000.The report listed Hillary Ruth Webber, Financescape Ltd, A.P. and...

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