McAleese chief executive Mark Rowsthorn has blamed the resources slump for the collapse of the beleaguered transport group as he hit out at minority shareholders for not backing the company's failed recapitalisation plan.

"We put a lot of work in putting a solvent structure together and unfortunately that hasn't played out," Mr Rowsthorn told The Australian Financial Review after the company went into voluntary administration on Monday. "A lot's been said about favourable treatment given to me but everyone could have participated in the [proposed] transaction."