Fresh allegations come to light in the Optic Security saga
A pair of Aussie-based former Optic Security Group investors have accused its new owners, Arena Investors, of putting a subsidiary into administration to dodge a court bill they’re owed.
Optic Security Group’s former office at Auckland Airport.
What’s at stake:About A$2.7m owing to YC Investments from a Optic Security subsidiary, which is ultimately owned by Arena Investors.
Background: An Optic Security subsidiary was ordered to pay YC Investments A$1.35m + indemnity costs by the Federal Court in Australia. YC Investments has accused Optic’s ultimate owner of putting the subsidiary into administration to avoid the liability.
Main players: Greg Ireland, George Rakkas, Todd Strathdee, YC Investments, Arena Investors, Optic Security Group, Optic Security Australia 2 Pty Ltd, STS Group.
A pair of Australian-based former shareholders in the failed Optic Security Group have accused the company’s former mezzanine financier, Arena Investors, of tipping one of its subsidiaries into administration to avoid a A$1.35 million legal bill it was ordered to pay by Australia’s Federal
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Key points
What’s at stake:About A$2.7m owing to YC Investments from a Optic Security subsidiary, which is ultimately owned by Arena Investors.
Background: An Optic Security subsidiary was ordered to pay YC Investments A$1.35m + indemnity costs by the Federal Court in Australia. YC Investments has accused Optic’s ultimate owner of putting the subsidiary into administration to avoid the liability.
Main players: Greg Ireland, George Rakkas, Todd Strathdee, YC Investments, Arena Investors, Optic Security Group, Optic Security Australia 2 Pty Ltd, STS Group.
