terry byrt arrested!!!
Sounds fair to me. I've been to all of the Macair creditors meetings to date, and the Macair debt stands at $42M!!! The whole time Macair was going down, we kept getting told it was a measly $12M. The Administrator, now the Liquidator, doesn't get paid unless he gets money out of the company. The company had virtually zero tangable assets, so the only way he gets paid is by sueing the directors. He wouldn't bother if he didn't see a golden pot at the end of the rainbow, thats for sure. He told the last meeting that he believed that Macair had been trading insolvently for at least 18 months. So he is now pursuing Mr Byrt as well as ASIC. Macair was losing about $150K per week for 18 months. If any creditors had known that, theres no way they would have provided any services. Byrt is a dirty crook and should be shut down. And now to say he starting another airline is just ludicrous. He couldn't raise 12 cents in the weeks leading up to Macair's demise, he had no cash, no assetts and no-one would lend him a cent. Where is the money coming from for Skyeastairlines? Add to that the Monto scam where he misrepresented a tenement and is being sued.....this guy is the latest Peter Foster of aviation. No-one with that background or those worries should be anywhere near an airline.