Metigy suspected of insolvent trading while founder bought luxury homes
The luxury homes of Metigy CEO David Fairfull are being pursued by administrators and the company’s largest creditor, Regal Funds Management.
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The luxury homes of Metigy CEO David Fairfull are being pursued by administrators and the company’s largest creditor, Regal Funds Management.
Administrators are now urging the sale of the properties - a mansion in Mosman and a luxury estate in Kangaroo Valley with a private rainforest waterfall - to claw back funds for creditors.
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Down-and-out Metigy’s investors want to see an urgent and independent review of the company’s books, as they try to make sense of how a near unicorn could unravel so quickly.
Australian tech firm Metigy, founded in 2015 by CEO David Fairfull (pictured) and CTO Johnston Lin, appointed administrators Cathro Partners on Friday night.