The liquidator of Altada, John Healy, reported alarming issues regarding the company's financial management by its directors, including unpaid taxes and questionable expenditures. Expenses on chartered jets, first-class flights, and lavish accommodations were highlighted, along with various high-value payments that raised red flags. The liquidator noted these activities occurred even as the company failed to pay its creditors. While the directors dispute these claims, stating they acted responsibly, the situation may escalate to the High Court for further investigation and resolution, with Healy tasked to compile an extensive report for the Corporate Enforcement Authority.
In a detailed report, liquidator John Healy raised serious concerns about Altada's directors, citing excessive expenditures on private jets, first-class travel, and extravagant accommodations.
Healy highlighted a concerning lack of transparency, with significant financial activities, such as large bonuses and personal expenditures, being questioned amid the company's failure to meet creditor obligations.
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