Big Review TV, the business unit of suspended company Big Un Limited, owed its secured creditors $45 million and had a cash balance of just $14,000, its administrator told creditors on Thursday.
The company, which created online video reviews for small businesses, was placed into voluntary administration last Tuesday, leaving shareholders of its parent Big Un Limited scrambling for answers.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
