Tempo di­rec­tor mys­tery res­ig­na­tion

Travel Daily - - News -

THERE were au­di­ble gasps of dis­be­lief dur­ing yes­ter­day’s Tempo Hol­i­days Pty Lim­ited cred­i­tors’ meet­ing (see page one) when the ad­min­is­tra­tor, Lau­rence Fitzger­ald, was asked about the sta­tus of the com­pany’s sole Aus­tralian di­rec­tor, Pa­trick Tully.

He told at­ten­dees that dur­ing his in­ves­ti­ga­tions he had been shown an un­dated res­ig­na­tion let­ter which in­di­cated Tully had stepped down about a month be­fore the col­lapse.

Cred­i­tors present noted that Tully is ac­tu­ally the brother-in-law of Peter Kerkar, the Lon­don-based CEO of Cox & Kings In­dia, who is the other di­rec­tor of Tempo - and also of Tempo New Zealand ( TD yes­ter­day).

Fitzger­ald noted that Tully’s res­ig­na­tion had never been reg­is­tered with ASIC, and would not have been valid in any case as Aus­tralian com­pa­nies re­quire at least one Aus­tralian di­rec­tor.

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