The extent of Ed Hardy Australia’s creditor crisis has been revealed, with freshly released documents exposing the full brunt of the collapsed company’s unsecured debt.
Minutes from the second meeting of creditors indicate there were 20 creditors present with claims totalling $5.9 million and two general proxies totalling $14 million.
Payroll issues with the local arm of Ed Hardy were also exposed, with investigations revealing its staff had been underpayed since July 1, 2010.
As reported in the previous edition of Ragtrader, creditors at the meeting voted the company be wound up.
Once a company is placed into liquidation, employees are eligible to apply for the federal government payment scheme GEERS to cover unpaid entitlements and wages under the appropriate award.
A list of creditor claims revealed marketing manager Nicole Condos is owed $9734. Major creditors listed in the claims document included ANZ ($4.3 million), Westfield Southland ($71,275) and Ed Hardy founder Christian Audigier ($469,405).
Assia Benmedjdoub