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In The News

In the Federal Court this week, Metigy executives spoke publicly for the first time about how it attained a $1 billion valuation through Fairfull’s deceptions, credulous investors and a technology bubble.
The former chief financial officer of artificial intelligence marketing start-up Metigy, which was valued at up to $1 billion before it collapsed, has admitted the company’s products did not use AI.
The boss of failed artificial intelligence marketing company Metigy has confessed that he lied to investors, forged bank statements, and fabricated revenue as part of a campaign of deception.
I doctored the statements… The bulk of the figures are fabricated. There would have been some transaction but I don’t know the real figures.
In the ever-evolving landscape of corporate insolvency, being vigilant to early warning signs has become crucial for informed decision-making in providing credit.
Australian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency.
Simon Cathro, founder and managing partner of restructuring and insolvency specialist Cathro & Partners, says his general view on advice tech providers is they are often too heavily reliant on capital injections because they’re not cashflow positive.
Last month and just days before a fresh hearing brought by plaintiff creditor Maradox Pty Ltd was to commence MG Gold’s sole director Mendel Gluck took his sole option, appointing Cathro & Partners Simon Cathro and Andrew Blundell to the company as voluntary administrators.
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