Flagship companies in the iQ Group, a controversial biotechnology operation that once sponsored racing cars and regatta yachts, have called in voluntary administrators, potentially owing more than $50 million.
The move indicates the businesses were insolvent or on the brink of going bust. It raises fears for employees and those who have bought shares or investment notes from group companies.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
