Bill Express to be investigated
Electronic payments company Bill Express owes more than $180 million to creditors including Telstra, Optus and ANZ and has been in trading halt since January. An administrator will assess the financial situation of the company on behalf of the board, while the ANZ bank, which is owed $59 million will also investigate Bill Express. The company's CEO flew overseas on Friday to lure a major investment. The company last traded at 7.2 cents, down from a peak of $1.17.
Source: The Age