Fly365 directors face court

SCOTT Mayne and Mustafa Filizkok, the directors of the collapsed Fly365.com online travel agent, have been served with examination summons requiring them to attend the Supreme Court of NSW in early Aug, to answer questions from the company’s liquidators.

The Public Examination is part of ongoing investigations by Aston Chace, the company which continues to oversee Fly365’s administration.

However the former directors also appear to be making moves to sell part of the business, with an email purporting to be from Mayne and Filizkok approaching Fly365 creditors for support of a proposal which would see the agency’s “assets and the brand” purchased by a third party.

“The former Directors will approach the Court to pursue the proposal and would like your support,” customers who have lost their money are being told, with the email suggesting the return could be up to 10%.

The Administrators have followed up with their own communication to creditors, noting that they did not issue the email and had not been provided with the proposal outlined.

“Creditors should review any proposal carefully and consider seeking independent legal advice,” Aston Chace said, referring creditors to the recent statutory report which showed more than $5.5 million was transferred out of Fly365 into its related entities in the days leading up to the agency’s liquidation.

“These transfers maybe recoverable to the Liquidators including as uncommercial transactions, resulting in a dividend to creditors,” they said.