Around 400 people and businesses are owed money by Australian auction house and gallery firm Mossgreen after it went into administration in December, writes Laura Chesters.
Details of its financial situation – it has Aus$12m (£7m) in debts and assets of just Aus$3m (£1.7m) – emerged at a creditors’ meeting on January 4.
Director and joint founder Paul Sumner appointed BDO as voluntary administrator on December 21 after believing Mossgreen was insolvent.