Embattled sydney radio star Mark Levy has settled huge debts associated with his collapsed hospitality company that soared into seven-figures.
The 2GB Mornings show host’s liquidation/news-story/c15fbac67f376612610e34cbe239f9fb” data-tgev=”event119″ data-tgev-container=”bodylink” data-tgev-order=”c15fbac67f376612610e34cbe239f9fb” data-tgev-label=”business” data-tgev-metric=”ev”>Sydney eatery Pronto Sylvania closed its doors last year as the company behind the restaurant, Saint George Hospitality, entered liquidation.
However, the company’s more than $1.6 million in debts previously indicated in a liquidator’s report had now dwindled to $395,850, according to The Daily Telegraph.
Creditors on Wednesday night were notified on Mr Levy’s intentions to pay them “100 cents in the dollar” on the remaining debt, the masthead reported on Friday.
“As I’ve said from day one, I promised to do everything I could to sort this out,” Mr Levy said.
“Last night, the liquidator wrote to all creditors informing them of my intention to pay 100 cents in the dollar and I will.”
“It’s been a lengthy and detailed process but I’ve always maintained from the very beginning that the creditors would be paid in full.”
Of the debt now owed by Mr Levy’s company, the Australian Tax Office (ATO) would receive $180,031.74, including a superannuation guarantee charge, and $99,842.90 would go to the liquidator.
The remaining amount would be…