http://www.crikey.com.au/2009/06/10/crikey-roll-call-the-gfcs-corporate-casualties/ now with extra source Sun, 12 Feb 2012 06:22:59 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/06/10/crikey-roll-call-the-gfcs-corporate-casualties/#comment-28391 Jackson Harding Wed, 10 Jun 2009 21:31:22 +0000 http://www.crikey.com.au/2009/06/10/crikey-roll-call-the-gfcs-corporate-casualties/#comment-28391 Kleenmaid. The Marrochydoore based whitegoods and appliance supplier has collapsed owing over $100 million with just $2 million in assets, all of which will have to be sold to pay wharehouser DB Schenker, leaving absolutely nothing for both secured and unsecured creditors. Some interesting trading practices including non-beneficial loans for directors luxury boats and a restructure to move other assets into the names of wives and children and allegations of at least two years trading whilst insolvent (disclaimer - my wife and I are unsecured creditors to the tune of $35,000 for an entire houseload of appliances) Kleenmaid. The Marrochydoore based whitegoods and appliance supplier has collapsed owing over $100 million with just $2 million in assets, all of which will have to be sold to pay wharehouser DB Schenker, leaving absolutely nothing for both secured and unsecured creditors. Some interesting trading practices including non-beneficial loans for directors luxury boats and a restructure to move other assets into the names of wives and children and allegations of at least two years trading whilst insolvent (disclaimer - my wife and I are unsecured creditors to the tune of $35,000 for an entire houseload of appliances)

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