Securities International, an Australian structured finance and investment firm, has collapsed under the weight of A$2 million ($1.83 million) to A$3 million ($2.74 million) in debt. Securities International, which has been placed in voluntary administration, received a directors penalty notice from the Australian Taxation Office after the unlisted public company was unable to persuade shareholders to put more capital into it and its ceo, Stephen Duncan, reportedly could not trade its way out of difficulty.
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