The 80 unsecured creditors of Good Impressions will receive zero cents in the dollar for their $2m the company owed them at the time of its collapse. Good Impressions sank three years ago with debts of $4.9m, although $2.6m of that was owed to related parties. The staff have just been told that they will receive their entitlements, with $30,000 in outstanding superannuation having just been paid to 37 employees, and another $300,000 in other entitlements to 13 staff. The super was paid using money recovered from the failed Sydney printer while other entitlements were funded through the Fair Entitlement Guarantee, though liquidators refunded the government program 3c in the dollar.

Fast flight: Peter Edwards, former director Good Impressions

While secured creditors took back equipment to recoup at least some of their losses, the 80 unsecured creditors owed about $2m will get nothing. Debts to trade creditors included $390,000 to BJ Ball, $193,000 to Dalton Paper, $85,000 to Agfa, and $36,000 to Fuji Xerox. Good Impressions collapsed in March 2012 but was allowed to keep trading in an attempt by creditors to recover their money. However, only one payment was made before the deal was terminated in November. Creditors then in February 2013 accepted a deal to protect director Peter Edwards from litigation if he paid $200,000, but this has also failed to give creditors any return. Following the collapse Edwards had a go at selling light aircraft, famously crashing one while on a demonstration flight with prospective clients, although thankfully everyone emerged unscathed.  

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