In a revealing insight into the unregulated art auction industry, the administrator’s report for the failed Mossgreen art auction house alleges the company breached nine separate sections of the Corporations Act.
The 100-page report, prepared over four months and distributed to more than 300 creditors this week, found the company once the nation’s biggest art and antique auction house had debts of $13.8 million with assets of $3.2 million when it ceased trading on Christmas eve.
BDO’s assessment of the company’s former management is so damning it has recommended the Australian Securities and Investments Commission (ASIC) consider criminal charges once Mo…
Read the full article at: http://www.abc.net.au/news/2018-04-26/mossgreen-administrator-report-recommends-charges-considered/9696568