Lack of funds hampers probe into failure of Melodiol Global Health

Further investigations into the collapse of Melodiol Global Health, and potential breaches by its directors, could be hamstrung by a lack of funds as it emerged that creditors are unlikely to see any of the A$20 million they are owed.

In a report filed with the Australian Securities and Investments Commission (ASIC), liquidator Clifford Rocke said no class of creditor – secured or otherwise – will receive any dividend as the firm has barely any assets to sell.