Eight items are being auctioned off by a creditor of Pialligo Estate Operations, a failed Canberra hospitality business that collapsed owing $10.6 million to 600 people and businesses.
Four food van trailers, two electric sightseeing buses, an electric golf cart and a two-person electric vehicle are being sold online by HGW Finance through Allbids auctionplace.
HGW Finance was a secured creditor of the company, meaning it was able to get back items from the estate.
It is owed more than $388,000.
As of Monday 12pm, bids on all the items came to $20,480.
That included $120 for a 23 seater electric sightseeing bus, $155 for a 14-seater electric sightseeing bus, $570 for an electric golf cart, and $6510 for a food van trailer with a beer tap.
Liquidators RSM Australia said in a report that the sale of items given back to HGW Finance was unlikely to fully repay the money owed.
"We have been provided with a listing of the equipment subject to HGW's security agreement and have requested for an accounting from the receiver following the sale. We do not expect that the sale of the goods will extinguish the debt owed to HGW," the liquidators said in a creditors report.
The items are based in a Fyshwick warehouse, and the auction will close on October 24 at 7.30pm.
While Pialligo Estate former owner John Russell has property interests estimated to be worth more than $63 million, and is a part-owner of the land, unsecured creditors owed money are unlikely to get back a cent.
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