SPL

Fly365 “flush with cash” before liquidator appointed

Aston Chace’s Ian Niccol. Aston Chace’s Vincent Pirina. A court has heard that the coffers of failed online travel agency Fly365 were “flush with cash” only days before the company was placed into liquidation, plunging the travel plans of thousands into chaos and leaving creditors chasing up to $30 million in debts. The revelations emerged during an ex-parte application in the Federal Court yesterday brought…

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Boka GPLs face off with SPLs’ appointor over costs

Worrells’ Dan Cvitanovic Worrells’ Nick Malanos. There’s heat aplenty being generated in the administration of Boka Beverages Pty Ltd, with a creditor successfully appointing special purpose liquidators (SPLs) but failing in its bid to force the general purpose incumbents to pay the costs of that SPL application personally. In Melhelm Pty Ltd, in the matter of Boka Beverages Pty Ltd (in liquidation) v Boka Beverages…