Mr Depper told ABC that up to $700,000 owed to suppliers would likely remain unpaid.
“I think any debt is relatively significant and impacts those businesses that are owed money, regardless of whether it is a smaller or larger debt,” he said.
“If they don’t receive any payment for it, it is a 100 per cent loss they have suffered, and it has an impact on them.”
The recoverable funds from these sales are far from sufficient to cover the accumulated debt.
Bond Homes’ asset value has been assessed at approximately $300,000, which will be prioritised to pay employees who are regarded as priority creditors.
This leaves little to no recourse for the building suppliers, who are unlikely to recover their substantial debts.
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