STA Travel had $30,000 in the bank

Tue, 06 Oct 2020

The liquidators of STA Travel say a lack of money held by the failed travel agent means they may need to seek liquidation funding.Deloitte’s Colin Owens and David Webb said in their first liquidator’s report the company was estimated to have assets of $34,000, with $30,000 in bank funding. Trade and other receivables were yet to be confirmed, but the pair estimate a shortfall to creditors of $11.5 million. Preferential creditors are owed $439,000. Unsecured creditors are owed about $11.1 million.The liquidators said they want t...

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