Administrator alleges Tzaneros’ ACFS traded insolvent, inflated assets

Sule Arnautovic of Salea Advisory, administrator of the Tzaneros family’s ACFS Port Logistics and related entities, has raised concerns about potential insolvent trading dating back to at least early 2025, questioned $197.3 million in payments and settlements that could be recoverable in a liquidation, and warned that more than $500 million in reported assets may be overstated, including $430 million in right-of-use assets, while disclosing that the logistics group owes approximately $486 million, including a $75.9 million tax deficit accumulated since 2018, and confirming plans to report potential offences to ASIC, as the family disputes several of the preliminary findings and continues working with McGrathNicol and Baker McKenzie on a proposed recapitalisation that has yet to be formally presented to creditors.

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