Citation Resources has appointed KordaMentha as voluntary administrators, while the oil and gas company continues to pursue recovery of funds allegedly misappropriated by former director Peter Landau.
Perth-based Citation said today it had entered voluntary administration, with Richard Tucker and Scott Langdon of KordaMentha appointed to oversee the companys affairs.
The board advises that it intends to work with the voluntary administrators on potential remedies and action for the potential recapitalisation of the company, Citation said.
The company said Federal Court proceedings against Mr Landau, Citations former chairman, in relation to accounting for certain monies remained ongoing, but also revealed that it was now pursuing claims a…
Read the full article at: https://www.businessnews.com.au/article/Citation-enters-voluntary-administration
