Arrium ‘bled cash’ from banks prior to $2.8B collapse, court told

Restructuring & Insolvency 2021-03-01 3:04 pm By Miklos Bolza | Sydney

Directors of steel producer Arrium continued to borrow money from “vulnerable” lenders in the months prior to the company’s $2.8 billion collapse and “bled cash” despite the inevitable end, a number of lenders have said on the first day of a 40-day trial in the NSW Supreme Court.