Disgruntled Reacon company creditors CTRL Print and Printcraft have won the court battle to have Reacon Australia and mmw3degrees placed into liquidation. The Reacon companies have debts estimated to be around $9m.
The two businesses were part of the Reacon Group acquired by Westmann printing owner Vik Gulati, the day after Reacon Group owner Jahingar Khan put the businesses into administration.
Gulati was aiming to reboot the businesses, by having them put into a DOCA, which would have parked their debts while a schedule of repayments, at a cents in the dollar level agreed with creditors and over an agreed time, was to have been…
