A Newcastle internet radio station that was launched late last year is headed for court after a notice of wind up application was submitted over money owed to creditors.
The Newcastle Herald reported in March that several well-known Hunter identities had walked out on station New 2UW because they had stopped being paid - less than six months after the venture was launched.
One of them, former ABC Radio presenter Carol Duncan, is listed as the creditor who has lodged the notice of wind up application through Martin Legal.
The Newcastle Herald understands Ms Duncan's name solely appears on the application because the court requires action from only one creditor at a time.
The matter is listed for a directions hearing on June 24.
"It is really disappointing, there was a group of us who tried incredibly hard over many months to bring this vision for an internet radio station to life," she told the Herald on Friday.
"Many promises were made to the team, very few were kept.
"We were engaged to provide professional services but there comes a point when your invoices aren't getting paid that you have to end the relationship."
Station operator David Sayers said establishing the radio station was "not about money" but he conceded there remained outstanding invoices.
"This entire exercise was about seeing an opportunity for getting a brand new sparkling radio station running and people having it for themselves," he said.
"I made two mistakes, one I expanded too quickly.
"Secondly I was incorrect in my timing in terms of getting enough revenue from advertising fast enough to keep ahead of things and pay these people."
The Herald reported in March a group of staff were owed about $80,000.
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Personalities who walked away from the business over the issue included Ms Duncan, music expert Mark Tinson, entrepreneur Steven Pickett and public relations consultant Tracy McKelligott.
The action is being taken against Commercial Broadcasting Company Pty Ltd - the company that trades under the New 2UW monicker. Mr Sayers' wife, Lyn, is the company's sole director and the pair are its largest shareholders.