The man behind a bold vision to develop a creative precinct in the heart of Launceston with enthusiastic state government and council backing may have been running insolvent companies at the time, according to liquidator reports, ultimately racking up debts estimated at more than $16 million.
Launceston entrepreneur Chris Billing, the operator of defunct creative education institution Foundry, was the director of a company called Creative Property Holdings, which was behind the $80 million creative precinct idea, publicised in 2020 as a way to revitalise the city centre.
The proposed creative arts precinct would have been built over an existing car park in Launceston’s CBD. (Supplied)
It was to be built on prime real estate, being operated…