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.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
