The first creditors meeting for Billboard Media was held on Thursday 18 December and it has been revealed that the company owes creditors over $7 million.
The largest creditor is the Australian Tax Office with the administrator estimating between $4 million and $5 million to be owed.
Hall Chadwick partner John Vouris has been appointed as the administrator for the Billboard Media business and provided Sprinter with an exclusive insight into the events from the creditor’s meeting.
“Today’s first creditors’ meetings went well with six creditors in attendance,” Vouris said.
Sprinter understands there was only one creditor in attendance at the meeting in Sydney with an additional five creditors…