Justin Cameron, the former chief and co-founder of failed SurfStitch Group, is legally challenging the validity of a second report to creditors and is seeking an apology for what he believes is defamatory information issued administrators, FTI Consulting.

Mr Cameron has remained largely silent since suddenly leaving the online surfwear business in Mach 2016 to pursue a private equity takeover of SurfStitch that never eventuated. But he remains a substantial shareholder, with a 4 per cent stake in the business he founded with friend Lex Pedersen over a decade ago in Sydney's Northern Beaches.