The administrators of failed stockbroker BBY, Stephen Vaughan and Ian Hall of KPMG, spoke to a closed-door meeting of creditors in Sydney today.
All 170 staff have been made redundant, making them creditors as well. Some have been rehired by AIMS Financial which is looking at buying what’s left of BBY.
The presentation today to creditors included the news that there are indications that BBY may have paid some creditors in preference over others just before the stockbroker collapsed under the weight of option trading liabilities it couldn’t meet.
Here are the key slides they showed to the 150 creditors, some in the room at the Masonic Centre and some watching via webcast: