Dan Baxter’s plans for a seven-bedroom mansion in Melbourne’s most expensive suburb stopped at the basement level after his ASX-listed Victory Offices sunk.
, after AMP Capital locked it out of three properties for unpaid rent, has seen his stake in the company he founded in 2013, shrink by tens of millions of dollars.Daniel Kukec
At the time Victory Offices floated at $2 a share in June 2019, Mr Baxter, through his Victor Group Holdings, held a 63.3 per cent stake worth $51.8 million. Shares in Victory Offices are now worth 2¢, valuing the company at just $3 million and Mr Baxter’s 73 per cent stake at $2.2 million.The Australian Financial Review.Adding to its woes, in May, former Victorian premier Steve Bracks, who helped guide the Victory Offices IPO, resigned as chairman and non-executive director.
Last month, the company said it had hired lawyers to fight a winding-up order from the landlord of its former premises at 180 St Kilda Road, Zig Inge Group,Victory Offices blamed an “inadvertent administrative error” for not responding to the statutory demand within the prescribed time period and said there were “reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable”.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Manchester United confirm Tyrell Malacia as first signing of Ten Hag eraErik ten Hag has made his first signing as Manchester United manager after the club confirmed Tyrell Malacia had joined from Feyenoord for €15m plus €2m in add-ons
Read more »
Million Dollar Listing Los Angeles star Josh Flagg reveals hardest part about being agent, advice for Aussie buyers - realestate.com.auCelebrity tantrums, mansions with shark tanks and deal-making with America’s biggest egos are all in a day’s work if you’re Million Dollar Listing: Los Angeles star Josh Flagg.
Read more »
Investors, analysts watch BHP’s cash pile for M&A actionStockpickers glum about the possibility of a recession have one thing to perk them up - the hope that more cashed-up companies would be able to pick up bargains.
Read more »
Flying vehicles, drones and AAM get a flight path from CASA in a ‘new era of aviation’ says Skyportz CEOA national strategy for flying vehicles, which could be in the skies within a few years, shows Australia is prepared for a “new era of aviation,” says Skyportz CEO Clem Newton-Brown.
Read more »
The best advice I have ever received: have no regrets (and fail fast)Robert Spurway is the chief executive of GrainCorp. He answers our CEO Q&A.
Read more »