Unsecured creditors of collapsed Sydney company Chippendale Printing are waiting to hear whether they will receive any of their lost money back, six years after the company fell into financial strife.

Chippendale entered voluntary administration in April 2010 shortly after an unsuccessful attempt to merge with now-defunct printer Beaver Press, causing the loss of 200 jobs.   

Peter Allen, Quentin Ode and Matt Adams of Taylor Woodings were appointed administrators, but were unable to save the struggling company which went into liquidation in May 2010.

FTI Consulting are now handling the liquidation, its spokesperson Manie Loprasert tells Australian Printer it is now declaring a second and final dividend to unsecured creditors of Chippendale on November 3.

“We are collecting proof of debt from any unsecured creditors,” she explains. “On the third of November we will be declaring and distributing funds to those who have submitted a proof of debt which has been approved.”

Loprasert could not confirm how many unsecured creditors are still waiting to receive money back or how much debt the company owes. 

FTI advises creditors whose debts or claims have not already been admitted are required on or before October 28 formally to prove their debts or claims.

Chippendale was headed up by managing director Fred Van Steel who, prior to the company’s collapse, denied to the industry press that it was facing any financial trouble.

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