Flybe Administrators Launch Legal Action Against Former Owners
Administrators for the collapsed airline Flybe have initiated legal action against its former owners. The lawsuit, filed by Interpath Advisory, alleges the misuse of a £33 million government-backed Covid loan. It claims the funds were improperly used to repay a loan to shareholder Cyrus Capital instead of for business operations. This action seeks to recover tens of millions of pounds for creditors following Flybe's second collapse in January 2023. The former owners have strongly denied the allegations, describing the legal claim as 'frivolous'.
Official Source: https://www.bbc.com/news/articles/cx21m88rd14o?at_medium=RSS&at_campaign=rss
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