STA Travel has been using New Zealand customers’ deposits for overseas holidays to cover company wages and office rent. Photo: File / Getty Images
Additional funding may be required to try and recover creditor claims in the liquidation of budget travel agent STA Travel, which shut down owing more than $11 million.
Liquidators from Deloitte, David Webb and Colin Owens, said investigations were required to establish the standing of customer refunds with airlines and third-party suppliers and identify any assets that could be realised for the benefit of creditors.
“Some of these ongoing investigations and actions may require liquidation funding due to the lack of funds held by, or due to, the company,” they said in their first report.
A…
Read the full article at: https://www.odt.co.nz/star-news/star-lifestyle/star-travel/liquidators-may-require-funding-untangle-sta-travel-claims
