Kleenmaid directors to face investigation
Directors Andrew and Brad Young and Gary Armstrong could be held personally liable for the group's debts and face criminal charges if the insolvent trading claims are proved.
Liquidators asked the Australian Securities and Investments Commission for support after concluding the group had a net debt of at least $82 million.
The Brisbane Times revealed today that ASIC has approved the request for cash from its assetless administration fund, which will be announced today.
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Kleenmaid was insolvent in 2007