Wellness company boss’ home repossessed as creditors circle

  • 📰 theage
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 77%

United States News News

United States United States Latest News,United States United States Headlines

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

.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

David's business has been hit hard by Melbourne's lockdowns, and he's still waiting for government supportVictorian business owners say financial support promised by the government has been hit by delays for weeks, and now sole traders and small companies are having their payments cut. Why should he and others be entitled to taxpayers money 💰? How hard has he been hit if he is still driving what looks like a Tesla? So many people have been hit hard by the pandemic. Some have had to rely on charities for cooked food each day as they have no income at all. Seriously, ABC, you suck. Struggling to make the Tesla repayments...
Source: abcnews - 🏆 5. / 83 Read more »