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Termite Resources directors appeal $7M damages ruling for liquidators
Clayton Utz 2019-05-23 1:57 pm By Christine Caulfield Melbourne

The former directors of collapsed mining company Termite Resources have appealed a ruling ordering them to pay $7 million in damages for allegedly breaching their duty by distributing more than $46 million to Termite’s parent company and failing to maintain a cash reserve of at least $10 million.

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Termite Resources directors must pay $7M for keeping insufficient cash on hand
Clayton Utz 2019-03-21 3:21 pm By Christine Caulfield Melbourne

A judge has ordered directors of collapsed mining company Termite Resources to pay $7 million in damages after finding they breached their duty by distributing more than $46 million to its parent company and failing to maintain a cash reserve of at least $10 million.

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