Australian Securities and Investments Commission (ASIC) has launched legal proceedings against Rex Airlines which collapsed into voluntary administration earlier this year.
Australia’s corporate regulator has announced it is suing one of the country’s best known airlines, accusing it of engaging in alleged “misleading and deceptive” conduct.Australian Securities and Investments Commission has launched legal proceedings against Rex Airlines which collapsed into voluntary administration earlier this year.
Rex Airlines collapsed into voluntary administration earlier this year. Picture: NewsWire / Jeremy Piper “Rex subsequently announced a downgrade on 20 June 2023 forecasting a $35 million operating loss for the financial year ending 30 June 2023.” “Our case will allege serious governance failures at Rex. Rex’s directors had a responsibility to take reasonable steps to ensure the company complied with the law and we will seek to hold them to account,” ASIC Chair Joe Longo said.
Corporate Regulator ASIC Rex Airlines Voluntary Adminitsration Lawsuit Sued Flights
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