Last month, E-Mersion Media Pty Ltd went into administration, with all its operations ceasing and staff stood down immediately.
The Commissioner of State Revenue started winding up proceedings against E-Mersion Media Pty Ltd in March. The tax debt stands at $1.1 million while the company’s accountants are owed $23,000. Meanwhile, the parent company, E-Mersion Media, claims it is owed $11.4 million, which makes up the bulk of the debt.The administrator also pointed out in the meeting there were some disputed debts. Four additional staff members claim they are owed money ranging from $17,000 to over $100,000.
The business also copped criticism after an internal report claimed E-Mersion Media spent more than $1 million on travel expenses over the past three years, including more than $100,000 for a year-long stay at a luxury villa in Doha. “The parent entity E-Mersion Media Pty Ltd, has raised millions of dollars, much of which has been used to support the operations of the voluntary administration company, E-Mersion Media Pty Ltd,” the administrator told news.com.au in a statement.