The former director of West Australian dairy company, Mundella Foods, says he “literally has nothing” left and has denied any improper transactions following the company’s collapse into liquidation.
Hayden Russell is facing scrutiny from liquidators over what they say could be more than $2 million in potentially unreasonable director-related and insolvent trading transactions.
Liquidators are also investigating whether the multi-million-dollar sale of Mundella and the Margaret River Dairy Company (MRDC) to dairy processor, Artisanal Market, constitutes an “uncommercial” deal.
Creditors are still owed $12.5 million following the collapse of Mundella Foods and associated companies.
In a statutory report filed to the corporate regulator,…