Well it's 11 months since the article below, KordaMentha, surely enough time to report on the status of those transactions?
Arrium transactions under investigation, administrator KordaMentha says
By political reporter Angelique Donnellan
Updated 27 Oct 2016, 7:36am
The administrators of embattled steelmaker Arrium say the company may have traded while insolvent.
In a report to creditors, KordaMentha stated it had identified a "number of transactions" entered into by Arrium prior to its collapse that warrant further scrutiny.
"There is evidence which warrants further investigation as it suggests that the Arrium group of companies may have traded whilst insolvent for a period," it read.
"We are not in a position to provide final comments about potential offences that may have been committed or amounts of money that may be recoverable in the event any of the Arrium Group of companies are placed into liquidation.
"There is still a significant amount of investigative work to be undertaken in respect to potential recoveries available to a liquidator," the report stated.
Under the Corporations Act, KordaMentha is required to investigate the business and financial affairs of Arrium.
Arrium went into administration in April, with debts of about $4 billion. The company owns the Whyalla steelworks and iron ore mines in South Australia.
Creditors' meeting next week
In the report, KordaMentha stated Arrium undertook a strategic review in early 2015, which showed there was concern about an ability to pay or refinance debt.
Arrium sought a billion-dollar financial lifeline earlier this year from US private equity firm GSO Capital Partners, but it was knocked back by lenders.
The deal would have seen lenders receive only 49 cents in the dollar.
The report stated investigations were continuing into whether finance facilities were continued to be drawn down with knowledge that they may not be able to repaid in full.
"We continue to investigate whether finance facilities were continued to be drawn down either when the Arrium Group Companies were insolvent or when they were aware that the GSO Proposal, if accepted, would result in the financiers receiving substantial discount on the face value of the debt advanced," the report said.
"To the extent that this can be established there may be claims against the directors."
KordaMentha stated a liquidator, if appointed, would have to pursue any such claims and independent legal advice would need to be sought to determine the likely success of any actions.
A second creditors' meeting will be held on Friday, November 4.
KordaMentha is seeking support for a plan which they say will maximise the chances of Arrium businesses continuing and provide flexibility for a sale of the company.
Interested buyers have been shortlisted and are currently undertaking detailed due diligence.
Arrium transactions under investigation, administrator says
The administrators of embattled steelmaker Arrium say the company may have traded while insolvent.
ABC.NET.AU
