Administrators' Statement On Pressed Juices

Statement by the Cor Cordis, Administrators of the entity formerly known as Pressed Juices Pty Ltd

PRESSED JUICES PTY LTD

Statement attributed to Barry Wight, Partner, Cor Cordis

The Administrators of the entity formerly known as Pressed Juices Pty Ltd stated:

“We estimate that the 280 employees will have their super largely paid in full. However, the quantification process is ongoing, and we are hopeful that this will be resolved with the ATO in the coming weeks, with a distribution potentially occurring in the New Year.

“The process of reconciling 280 superannuation accounts has been protracted, noting the poor state of the books and records, and the limited assistance provided by Mr Pegoli.

“Whilst this is some positive news for those affected employees, the company has in excess of $8m of unsecured creditors (including c$1.9m owing to the ATO) who will not receive any return.”