Wellness company boss’ home repossessed as creditors circle

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The founder of a Melbourne health and wellness company that planned to expand into China with the assistance of former Liberal trade minister Andrew Robb has had his home repossessed after the business collapsed owing more than $11 million to creditors

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A security company acting on behalf of the mortgagee found three safes and several firearms inside the home, which were handed over to officers at Ringwood police station.The front door of the property at 2A Quamby Road, Ringwood North with a court order and QR codes posted on it. The Commonwealth Bank of Australia is the largest secured creditor to the company, with a debt of more than $3 million, while 80 unsecured creditors are owed almost $8 million by GBA, which owns the weight-loss supplement program Celebrity Slim.

 

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Source: abcnews - 🏆 5. / 83 Read more »