PPRuNe Forums - View Single Post - SKYAIRWORLD: Management to take "Leave?
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Old 18th Mar 2009, 22:44
  #278 (permalink)  
wallabyblue
 
Join Date: Jan 2006
Location: Newcastle
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Administrator Independence

seems Mr Lucas has had problems with ASIC in the past over issues of indpenedence see following:

Australian Securities and Investments Commission - 06-383 Brisbane liquidator disciplined

there are also related news stories form 2006 if you google them.

the issue willbe trying to find another administrator to take over when clearly there isn't much cash around.

also the charge taken out by Kenneth Roy Allen (from asic public records) needs to be challenged at the creditors meeting as a charge can only relate to new or prospective debts , not past debts.

the staff of SAW have every right to be outraged by SAW's actions.

my contacts tell me that some creditors were experiencing payment problems as early as last september year so DJC can't blame recent GFC issues for his spectacular and predictible demise.
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