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Gippsland Falcons avoid creditors

Irate creditors await long overdue payment from the Gippsland Falcons

By Emma Kae - 11th May 2000 - Back to News

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The Gippsland Falcons have had their creditors breathing down their neck, due to unreconciled, unpaid accounts.

Comments have been made that payment could occur within this week, in answer to claims of unsettled accounts going back more than six months.

Mid year 1999 more than 100 creditors signed a deed of company agreement to accept only 10 cents of every dollar owed to them. This was in order to receive payment within 90 days, and let the Falcons continue business where they may have been unable to.

Yet nearly a year later, these creditors have yet to be paid.

Creditors are getting frustrated, being kept in the dark about what is going on, and the way they have been treated especially after the agreement was made.

One creditor has been quoted as saying, "It is very frustrating, you should be trying to work with them and get them behind you" (source: The Latrobe Valley Express).


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