‘No brainer’ that Arrium was failing when directors drew down funds, court told

Restructuring & Insolvency 2022-08-02 11:09 pm By Cindy Cameronne | Sydney

Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a “no brainer” that the company was in dire straits when its directors sought extra funds.