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Charlton facing insolvent trading questions

written by WOFA | May 25, 2010
photo - Paul Sadler
photo - Paul Sadler

The former CEO and owner of collapsed Brisbane based carrier SkyAirWorld, David Charlton, is to be questioned by the company’s liquidator over allegations that the company was trading while insolvent.

SAW’s liquidator Peter Lucas has told The Courier Mail that he was planning to question Charlton and five other stakeholders in the defunct company in the Brisbane Magistrate’s Court in August about allegations of insolvent trading, intercompany transactions, unfair preference payments, uncommercial deals and the roles of shadow directors. Lucas added that he has already forwarded a report to the Australian Securities and Investments Commission, while there is no prospect that unsecured creditors will see any return.

The newspaper report also notes that Charlton has been working as a consultant for Cairns based Regional Pacific Airlines on specific projects over a number of years.


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