Lenders to 777 Partners accused it of fraud, claiming that the Miami-based investment firm borrowed against $350 million of assets that it didn’t own, didn’t exist or were already promised to someone else.
In a suit filed in federal court in New York, a firm that provided hundreds of millions of dollars to 777 accused the company of double-pledging its collateral to other investors.
Australian airline Bonza enters voluntary administration due to struggles in securing aircraft and network cutbacks, with its future viability under discussion.
Bonza faces major hurdles if it is to restructure and continue operations centreforaviation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from centreforaviation.com Daily Mail and Mail on Sunday newspapers.