A creditors meeting for Pay TV operator SelecTV yesterday has revealed the company has $26m of debt, The Daily Telegraph reports.
The satellite broadcaster, which entered voluntary administation last month, owes $12 million to the WIN Corporation.
It has just $1.5 million in assets.
CEO Andrew Gordon, the son of WIN Corporation owner Bruce Gordon, did not attend the meeting, instead being represented by WIN chief financial officer Daniel Collis.
Source: Daily Telegraph