A fuel business that was headed by a man linked to the Rebels bikie gang and owes $43 million to National Australia Bank may have been trading insolvent for up to two years before the bank intervened, according to preliminary investigations.
Administrator Deloitte has reported Press Australia, a key property arm of the now folded petrol station and fuel transportation business Xpress Group, may have understated its liabilities and was probably trading insolvent from at least February 2022, if not early 2021.
Xpress director Mark Bassal follows his barrister out of court in Sydney following administrator examinations in June.
NAB appointed McGrathNicol to take charge of Xpress Groups assets in Marc…
Read the full article at: https://www.afr.com/work-and-careers/workplace/xpress-company-chased-by-nab-may-have-understated-liabilities-20230720-p5dpvj