McAleese drives close to voluntary administration
Sarah Thompson and Jenny Wiggins
McAleese will be forced to appoint McGrathNicol as voluntary administrator if distressed debt group SC Lowy does not give ground on one of two conditions it has stipulated to back a solvent restructure.
An emergency board meeting was under way at McAleese on Sunday afternoon in a last-ditch attempt to circumvent a messy – and avoidable – unravelling of the stricken transport group.
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