AUSTRALIA: Blue Ribbon hearing blames Patterson for liquidation
Ian Patterson, the man behind the McKenzie Group's buyout of Blue Ribbon, was the focus of damning evidence this week at the ongoing Federal Court hearing into the Tasmanian meat processor's collapse. Patterson admitted that he repeatedly ignored warnings that Blue Ribbon was insolvent, telling the Australian Securities and Investments Commission (ASIC) that he took such warnings, including one from the company's CFO, with a pinch of salt.
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