Unsecured creditors of the Bluesfest music festival, owed more than $7 million, can expect a dividend of less than 11¢ in the dollar as a liquidator probes unusual transactions among a web of companies controlled by its founder.
Peter Noble, the owner of Bluesfest, one of Australia’s largest music festivals, announced the festival’s cancellation three weeks before it was due to start in April, and placed two entities related to it into voluntary liquidation.
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