In Bannerman and Logan’s third liquidators’ report released on October 22, the pair gave an update on Jones’ and Louie’s conduct.
“Our investigations have identified matters which we consider to be breaches of directors’ duties,” the report says.
“We have served demand on the directors in relation to this and are in the process of preparing a report to the Registrar of Companies in accordance with our duty set out in section 60 of the Insolvency Practitioners Regulation Act to report serious problems.”
In a statement to the Herald, Logan confirmed he has since lodged the section 60 report but could not give any more details.
“Given the sensitive nature of the matters raised in that report and our demands against the…