Vultures vie for McAleese assets as McGrathNicol awaits Mark Rowsthorn plan

James Thomson, Jenny Wiggins and Aron Lewin

Updated Sep 9, 2016 – 9.59am, first published at Sep 8, 2016 – 3.23pm

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More than 70 parties have expressed interest in the assets of collapsed transport group McAleese, but top shareholder Mark Rowsthorn is yet to propose a rescue plan.

Mr Rowsthorn, who didn't attend the first meeting of creditors in Melbourne on Thursday, is working with Hong Kong investment group SC Lowy on a deed of company arrangement but is not expected to meet the Friday deadline set by administrators McGrathNicol for expressions of interest in McAleese's assets.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.

Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport.