Bestjet collapse information Rachel James Michael James life-style

Bestjet collapse news Rachel James Michael James lifestyle

Quick vehicles, resort holidays and a multi-million-dollar waterfront penthouse.

As Bestjet clients battle to recoup 1000’s of {dollars} in cancelled airfares, the corporate’s founder Rachel James nonetheless seems to be dwelling the excessive life. 

A lot so, sources near the James household have instructed the collapse of the finances airfare firm doesn’t seem to have dented her lust for luxurious in any respect.

Michael James and Rachel James with the Dalai Lama. (Equipped)

Mrs James offloaded Bestjet to McVicker Worldwide six weeks earlier than it collapsed.

An estimated 10,000 clients are out of pocket, with collectors owed $7 million – a determine that’s anticipated to skyrocket. 

 “It infuriates me that individuals (Bestjet clients) are left on this scenario they usually (the James’) are simply swanning about,” one supply mentioned.

“It makes me really feel sick.”

As solely revealed by, Bestjet went into administration on December 18.

READ MORE: Bestjet minutes do not line up, collectors say

READ MORE: Livid Bestjet clients struggle again

Mrs James based Bestjet in 2012, simply weeks after her husband Michael James’ worldwide finances airline, Air Australia, went beneath with money owed of as much as $100 million.

Michael and Rachel James are all smiles. (Equipped)

Air Australia was grounded in February 2012 after a gasoline provider in Thailand refused to increase credit score.

The collapse left 4000 passengers and crew stranded and lots of of workers out of labor.

Based on studies on the time, Mr James emailed workers hours earlier than Air Australia was grounded urging them to “ignore hypothesis” in regards to the airline’s future.

Michael James and members of the family at Aulani, a Disney resort and spa in Hawaii, in October final 12 months. (Equipped)

Mr James beforehand labored at now defunct airline Ansett Australia.

The James’, who’ve 4 kids between them, stay in a multi-million-dollar, two-storey waterfront penthouse in Queensland and are presently holidaying at a luxurious Gold Coast resort, in accordance with sources.

The household is claimed to journey to Hawaii usually with their prolonged household and likewise keep at a time-share at Aulani, a Disney resort and spa.

Michael and Rachel James with family members in Hawaii. (Equipped)

A Present Affair reported that final 12 months, Mr James bragged about an extravagant three-car racing crew.

Pictures splashed on social media present him standing alongside Bestjet-branded racing vehicles. He’s additionally identified to drive a fleet of pricy automobiles. 

The James’ have refused a number of requests for remark.

Michael James with a Bestjet-branded racing automobile. (Equipped)

Final week, Mrs James blamed new proprietor Robert McVicker for the collapse of Bestjet.

Mr McVicker was in cost for simply 39 days earlier than the corporate went bust.

However Mr McVicker instructed a January 2 collectors assemblyone of many causes for the collapse was that Bestjet Singapore, for which Mrs James is listed as a director, failed handy over a promised $3.2 million cost.

In the meantime, two Bestjet audits Mrs James claimed occurred final 12 months are being contested by the companies she says did them.

A number of sources have instructed that Mr McVicker and Mr James “are outdated mates”.

Michael and Rachel James. (Equipped)

Scores of indignant Bestjet clients have come ahead with severe allegations about their experiences with Bestjet.

They’ve accused the corporate of not paying refunds, failing to subject tickets and sending invalid ticket confirmations.

When broke information of the collapse, Bestjet buyer Dale Tindal mentioned he was $6020 within the purple.

“We came upon final evening that Bestjet requested a full refund and cancelled our bookings with Emirates,” Mr Tindal mentioned in December.

“Emirates issued the total refund again to Bestjet on the 18th of December. Bestjet … haven’t paid these funds again to us.”

December 18 was the day Bestjet went into voluntary administration.

Many shoppers have registered as unsecured collectors with the administrator, Brisbane-based Pilot Companions.

However they inform they don’t anticipate to ever see their cash.

Mr James is a “precedence creditor” of Bestjet, in accordance with the administrator’s report back to collectors.

It comes as minutes of a January 2 collectors assembly revealed Mrs James had a 50 per cent stake within the firm after she bought it.

Collectors who attended that assembly instructed yesterday that Mrs James’ monetary stake in Bestjet was by no means really mentioned – claims the administrator denies.

The Australian Monetary Complaints Authority, a free and unbiased ombudsman service, this week provided Bestjet clients monetary dispute help.

AFCA suggested clients not pleased with the response of their journey insurer or monetary establishment to lodge a criticism on-line.

Quite a few clients have been shocked to find their journey insurance coverage coverage doesn’t cowl customers if an organization folds.

“This can be a peak interval for households and people happening holidays and we all know that many individuals have been affected by Bestjet’s collapse,” AFCA CEO and Chief Ombudsman David Locke mentioned. 

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