For those of you not familiar with what’s happened with the BOPO Prepaid VISA card company and their Parent company Bill Express, The AGE, BusinessDay has an article on the whole Bill Express fiasco.

The Bill Express is said to owe creditors could be more than $250 million. Debt owed to New agencies across Australia has yet to be included in the debt total.

Optus is owed an estimated $50 million from the supply of prepaid recharge codes to Bill Express, with Vodafone owed $30 million, 3 Mobile up to $20 million and $10 million for Telstra, as well as a smaller amount for smaller companies that provide prepaid overseas telephone credit. Bill Express also owes finance company Asset Secure $13 million, German broker Deutsche Forfait $10 million and $7 million for finance of its electronic terminals.

Source: BusinessDay

While big companies are hit hard, those hit hardest are the employees left without redundancy packages or benefits along side Newsagency ownerw who are now forced into unwanted legal action regarding their Bill Express Contracts. Newsagency owners have expressed their opinions on the Bill Express Fall out on a well known blog - newsagencyblog