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TheOtherGuy
2nd Jun 2009, 06:42
Macair directors being sued for $39m
Christine Flatley

June 2, 2009 - 4:14PM
Three former directors of defunct regional airline Macair are being pursued in court for almost $39 million over allegations they engaged in insolvent trading.
Documents filed in the Supreme Court in Brisbane on Tuesday allege Terrance John Byrt, Clive David Triplett and Kent Victor Donaldson incurred debts of just over $38.8 million in the six months after they were appointed directors of Macair in July 2008.
Liquidator Jonathan McLeod, who was appointed to the company shortly before it wound up in February, is claiming the trio knew Macair was insolvent when they racked up the unsecured debts from creditors.
assasin8
2nd Jun 2009, 10:57
Gee, that's unusual for a GA company... They're all operated to the HIGHEST standards and morals and always above board!:cool:
Joker 10
2nd Jun 2009, 11:34
I will take bets their defence will be that Macair was insolvent when they took it over and this was misrepresented by the previous owner.
Jabawocky
2nd Jun 2009, 11:52
From Stories I have heard a while back, long before they went under.... I would back Joker to the TUNE of what ever he bets! ;)

Coz I think he is not JOKERing about that!

J:ok:
Falling Leaf
2nd Jun 2009, 13:59
Just as SAW followed MacAir's demise on this forum, I'm sure that in a few weeks we will get the same story repeated again for SAW, particulary in light of the following quote from the Courier Mail:

The story might have ended there. But liquidator Peter Lucas hopes to publicly question sole owner and director David Charlton, as well as other key company figures, over a number of potentially questionable financial transactions.

"We're still investigating insolvent trading," Mr Lucas said last week.


PL has his knife out for the directors of SAW, and is sharpening it every day to get to the bottom of these dealings.

It is ironic for us ex SAW employees to think that in the days following SAW's entry into voluntary administration, TB was been portrayed as a potential saviour of the company.

"Birds of a feather flock together..."
the wizard of auz
2nd Jun 2009, 15:04
From Stories I have heard a while back, long before they went under.... I would back Joker to the TUNE of what ever he bets!

Coz I think he is not JOKERing about that!


Bwaahahaha. Oh so subtle. :E
Fatcat23
3rd Jun 2009, 05:03
You hit the nail on the head Fallingleaf. They seem to not understand or care that trading insolvently is illegal and immoral.