Termite Resources directors must pay $7M for keeping insufficient cash on hand

Restructuring & Insolvency 2019-03-21 3:21 pm By Christine Caulfield | Melbourne

A judge has ordered directors of collapsed mining company Termite Resources to pay $7 million in damages after finding they breached their duty by distributing more than $46 million to its parent company and failing to maintain a cash reserve of at least $10 million.