Preliminary investigations outlined in the report showed creditors may have claims worth $123 million for insolvent trading, over $700,000 for “unfair preference payments” and $2.2 million for “unreasonable director-related transactions”.
“It would be very unrealistic for a liquidator to collect $123 million in insolvency trading claims from two directors but I think that’s the value we are likely to have,” Mr Baskerville told news.com.au.
“It should be noted in my report there were no real property assets in the name of (Remi’s directors) Peter Terrill or Mark Prestige that we could identify directly in their name, so in other words these men appear to be men of straw.
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