Tilley’s pipe dream ends in frozen company
Latitude chairman Mike Tilley says it was a humbling experience trying to build a manufacturer that would make mining cheaper.
Tubi’s mobile pipe-making factory was an innovative system that could be transported in 15 shipping containers.
Investment banker Mike Tilley personally spent $150,000 funding a court challenge to seize back control from its chief executive of a once-promising pipe manufacturer he had chaired for seven years.
The Latitude Group chairman’s intervention led the Federal Court to remove administrators from Tubi Group earlier this month and resume trading of the Sydney-based company on the sharemarket.
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