Starleaton has failed to meet its monthly repayments promised to creditors and has been placed into liquidation.
Creditors were informed this afternoon at 5.22pm in a statement titled ‘General Update on the Deed of Company Arrangement’ issued by Simon Cathro and Andrew Blundell from Cathro & Partners.
“Pursuant to Clause 7.5 of the DOCA, the companies were obliged to make 24 equal monthly instalments in the amount of $33,333.33 into the Deed Fund on the last business day of each month, for the benefit of creditors,” the statement said.
“The Companies defaulted on this obligation and failed to make payment of monthly instalments as and when they fell due.
“The Administrators issued a default…
