An Australian consumer affairs body is investigating the boss of a collapsed caravan company which owes millions of dollars to creditors but only has three vehicles to repay everyone.
In August, news.com.au reported that Victorian-based Tango Caravans had plunged into liquidation, leaving 60 customers as much as $90,000 out of pocket each after being “sold the fake dream”.
Andrew Yeo and Lindsay Bainbridge of insolvency firm Pitcher Partners, the appointed liquidators, revealed in a statutory report last week that Tango owes $3.2 million to 85 creditors.
Empty-handed customers make up the majority of the unsecured creditors, with the total amount they are owed exceeding $2 million.
And in a major blow to those 60 customers, they have…
