ROGUE LIQUIDATOR KORDA MENTHA QUESTIONED ABOUT SHADY DEALINGS AT ALLIED BRANDS, ANSETT

Liquidators KordaMentha are under new scrutiny as they claim to have closed out the Ansett Airlines liquidation.  KordaMentha, paid tens of millions in this action, have refused to produce eight years of accounts from the Ansett Group to ASIC or the courts.


KordaMentha have a long history at withholding financial information from the public record, and ASIC and the government have been powerless to get compliance with the law by this firm.  


"It's all a farce" claim reviewers of the liquidation.

KordaMentha is the secret home to Lachlan McIntosh, the Chairman of Allied Brands Ltd. (ABQ) as the company stole from migrants, falsified records to the Department of Migration, ripped off franchisees, and defrauded their suppliers.  McIntosh is said to be a "business recovery specialist - he sure made quick work of ABQ, from a company in distress under the Peter & Trent Graham family, to bankruptcy in short order.  

McIntosh has had his bio "hidden" on the KordaMentha website due to his participation in this farce.  This has enabled this blog, and other reports of McIntosh's dodgy reputation, to be easily found by anybody thinking about retaining the services of this dodgy liquidator.

BASKIN ROBBINS AUSTRALIA SUFFERS AS DUNKIN BRANDS BEGINS MANAGEMENT IMPLOSION

LOOKING DAPPER IN HIS NEW SILK SUIT, HE'S
SILL GOT ALMOST $5M IN CASH LEFT

The future of the "rescued" Baskin Robbins franchisees in Australia looks to be in jeopardy as Dunkin Brands, now a public company, (DNKN), looks to be shedding Baskin Robbins and other management under Nigel Travis's watch.


Insiders indicate that many of the senior executives who've now left in disgust were among a large group of senior executives denied their own "free shares" from the float.  These rumoured executives include Srini Kumar, with Baskin Robbins some 20 years and the shock sacking of Neil Yanofsky who was in place only four months before getting the sack.  Both of these executives had Australia as one of their key tasks.  Neither was granted stock bonuses by Travis, which apparently led to their departures.


Of the most concern has been the "run for the door" as executives, given stock options that apparently had no "quiet" period, have universally begun to "cash out" of Dunkin Brands.  This includes Travis, who's given himself a nice $5,000,000 pile of cash for Chrissy, as well as Chairman and known franchisee abuser Jon Luther who pulled his $10,000,000 share out of the newly-public firm!  Luther is now running Arby's, a marginal US fast-food chain.  There hasn't been one management "buy" of DNKN since the float.  Guess these insiders know what the likely direction of the shares and company is going.  DOWN.

And the results of this management inattention and consumer overpricing (which has mostly taken down competitor Cold Stone), is evident in the stock analyst reports now.  And many consider Dunkin to be on a long slide to collapse, with Baskin Robbins leading the way.


None of this bodes well for the poor franchisees in Australia, or elsewhere.