This was published 9 months ago
A freight empire has collapsed with massive debts of more than $116 million, while its high-flying director insists he will launch fresh bankruptcy proceedings against former AFL manager Ricky Nixon over an alleged debt of $40,000.
Family-owned Austrans Container Services was placed into liquidation last July, but documents filed with the corporate regulator reveal Gregory O’Shea is being investigated over allegations he repeatedly breached his director duties and allowed the company to trade while insolvent.
A statutory report by liquidator Cor Cordis also confirmed it was examining claims that unfair preference payments and uncommercial transactions were made before Austrans’ sudden demise.
“A number of stakeholders have raised concerns about the company’s conduct during the period prior to our appointment. The concerns raised appear to relate to the…