Australians who say they have been left stranded overseas and broke after their travel agency collapsed have now been told the company was likely trading while insolvent.
Melbourne-based agency Traveldream — which was registered as Australian Travel Deals Pty Ltd and sold discounted flights, cruises and international tour packages — collapsed in April and went into voluntary administration.
Now, an administrator’s report has found the company was “likely” trading while insolvent from 30 June 2024, more than nine months prior to entering voluntary administration.
Directors found guilty of allowing a company to trade while insolvent can face civil or criminal penalties and be banned from managing companies.
