Creditors say they may not see a cent of the millions owed to them by collapsed West Australian dairy processor Mundella Foods and two other associated companies.
Mundella, Margaret River Dairy Company and The Cheeky Cow were put into liquidation this month.
Director Hayden Russell is facing investigations by liquidators at Mackay Goodwin following administrators’ preliminary suggestions of insolvent trading and hundreds of potentially “unreasonable transactions”.
Dairy farmer and Mundella Foods milk supplier Phil Hall told the ABC he was owed “enough money to buy a house” and expected to get nothing back from the liquidation.
Phil Hall says he is still owed hundreds of thousands of dollars by Mundella Foods. (Supplied: Facebook/Halls Family Dairy)
“I don’t know what happened to Mundella, but I know this year we basically never got paid,” he said.
“Myself and another dairy farmer, we both did the same thing, believing in this company.
“We wanted this to work because it was the only way forward for the future.”
A trio of well-known dairy companies have collapsed after being put into voluntary administration a year ago. (ABC South West WA: Jon Daly)
The unpaid debt contributed to his family’s recent decision to sell their farms at…